WAEC Economics 2021 Objective — Question 19

Question 19 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.

19. A firm incurred the following costs of production. Use the information in the table to answer questions 19 and 20. The fixed cost of production is

• A. $100.Correct
• B. $200.
• C. $300.
• D. $600.

Explanation

Fixed cost is the cost incurred even at zero output — the cost that must be paid whether or not the firm produces anything.

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