JAMB Economics 2020 Objective — Question 23

Question 23 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2020 Objective paper, with the correct answer and a full explanation.

From the graph above, Represents

A. marginal cost
B. total costCorrect
C. variable cost
D. fixed cost

Explanation

The upward-curving line on the graph (rising steeply with output) represents total cost.

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