The production cost that varies inversely with output is the

Economics

WAEC 2022

A. total fixed cost
B. marginal cost
C. average fixed cost
D. average cost

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Correct Answer: Option D

Explanation

Average cost is directly proportional to the total cost of goods and inversely proportional to the number of goods, so average cost decreases when the number of goods increases.

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The production cost that varies inversely with output is the

Correct Answer: Option D

Explanation

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