NECO Economics 2023 Objective — Question 18
Question 18 of 50 from the National Examinations Council (NECO) Economics 2023 Objective paper, with the correct answer and a full explanation.
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The total fixed cost curve is A. vertical B. Horizontal C. downward sloping D. upward sloping
- A. vertical
- B. HorizontalCorrect
- C. downward sloping
- D. upward sloping
Explanation
Total Fixed Cost does not change with the level of output, so it is represented by a horizontal line on a cost-output graph.
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