JAMB Economics 2021 Objective — Question 6

Question 6 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.

6. Use the following information to answer questions 6 and 7: Given C = 100 + 3Q. What is the fixed cost? a. Unavailable b. 100 c. 3 d. 3Q

A. Unavailable
B. 100Correct
C. 3
D. 3Q

Explanation

Fixed cost does not vary with quantity. Setting Q = 0 in C = 100 + 3Q gives C = 100, so the fixed cost is 100.

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