WAEC Economics 2018 Objective — Question 20
Question 20 of 50 from the West African Examinations Council (WAEC) Economics 2018 Objective paper, with the correct answer and a full explanation.
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At output level 5, the total variable cost is
- A. $5.00
- B. $20.00
- C. $55.00
- D. $35.00Correct
Explanation
TC = FC + VC. At output 5, TC = $55, FC = $20, so VC = 55 − 20 = $35.00.
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