Categories: Economics WAEC

The fixed cost of production is

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 = $ I00

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