by Sunday | Mar 28 | Economics WAEC
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 A. $ I00. B. $ 200. C. $ 300. D. $ 600 Correct Answer: Option A = $...
by Sunday | Mar 28 | Economics WAEC
A. fixed inputs of production. B. variable factors of production. C. plants and machinery of the firm. D. equipment and other capital. Correct Answer: Option B = variable factors of production.
by Sunday | Mar 28 | Economics WAEC
A. Output of the input. B. Marginal product of the input C. Average product of the input D. Utility of the input employed Correct Answer: Option A = Output of the input.
by Sunday | Mar 28 | Economics WAEC
A. $1.50 B. $15.00 C. $150.03 D. $166.67 Correct Answer: Option B = $1.50
by Sunday | Mar 28 | Economics WAEC
A. Rises and quantity falls. B. Falls and quantity rises. C. And quantity increase D. And quantity fall. Correct Answer: Option B = Falls and quantity rises.
by Sunday | Mar 28 | Economics WAEC
A. Fixing maximum prices. B. Fixing minimum prices. C. Encouraging them to produce surplus output. D. Increasing taxes on inputs. Correct Answer: Option B = Fixing minimum prices.
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