The average cost of producing 40 bags of rice is

By: |Published on: Mar 28|Categories: Economics WAEC| 0 comments

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

Correct Answer:

Option B = $11

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