A firm incurred the following costs in production. Use the information in the table to...

WAEC 2021

A firm incurred the following costs in production. Use the information in the table to answer the question below.

Output (bags of rice	0	10	20	30	40	50	60
Total Cost ($)	100	200	300	380	440	520	600

The average cost of producing 40 bags of rice is_____

A. $10
B. $11
C. $60.
D. $80

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Correct Answer: Option B

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A firm incurred the following costs in production. Use the information in the table to...

Correct Answer: Option B

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