WAEC Economics 2022 Objective — Question 19
Question 19 of 50 from the West African Examinations Council (WAEC) Economics 2022 Objective paper, with the correct answer and a full explanation.
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The production cost that varies inversely with output is the
- A. total fixed cost
- B. marginal cost
- C. average fixed costCorrect
- D. average cost
Explanation
Average fixed cost decreases as output increases (since fixed costs are spread over more units), varying inversely with output.
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