WAEC Economics 2024 Objective — Question 20
Question 20 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.
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20. The fixed cost of producing 100 units of a good is $600. If the variable cost is $400, the average total cost of one unit of the good is
- A. $4
- B. $6
- C. $8
- D. $10Correct
Explanation
Average total cost = (Total fixed cost + Total variable cost)/Quantity = ($600 + $400)/100 = $10.
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