JAMB Economics 2011 Objective — Question 28

Question 28 of 49 from the Joint Admissions and Matriculation Board (JAMB) Economics 2011 Objective paper, with the correct answer and a full explanation.

[Diagram: Price/Cost graph with MC, ATC, AVC curves] When 20 units of output is produced, TC will be

• A. A. #300Correct
• B. B. #460
• C. C. #400
• D. D. #360

Explanation

Total cost is the product of the average cost and the quantity produced, i.e. 15 x 20 = 300.

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