WAEC Economics 2019 Objective — Question 21

Question 21 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.

A cost of production that is positively related to output is the

A. total fixed cost
B. average fixed cost
C. variable costCorrect
D. social cost

Explanation

Variable cost is directly related to the level of output: the higher the output produced, the higher the variable cost (and hence total cost) of production.

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