use the table to answer the following question quantity total cost 0 20 1 25 2 28 3 30 4 38 5 55 6 92 7 135 the total fixed cost is?

Assessment: WAEC SSCE - Economics - 2018 (Objective) Subject: Economics

Question 1 Report

use the table to answer the following question
quantity total cost
0 20
1 25
2 28
3 30
4 38
5 55
6 92
7 135

the total fixed cost is?

Answer Details
The total fixed cost is $20.00. Fixed cost is a cost that does not change with the level of production or the quantity of goods produced. In the given table, the total cost increases as the quantity produced increases. However, when the quantity produced is zero (0), the total cost is still $20.00. This means that regardless of the quantity produced, the business incurs a fixed cost of $20.00. Therefore, the correct answer is $20.00.
Read lesson note on The Theory Of Demand (JAMB)
View Answer

Related Questions

1

the organisation of productive factors is the reponsibility of the?
2

a downward sloping demand curve means that?
3

goods whose demand vary directly with money income are called?
4

producers operating in a free market economy are more efficient as a resulf of?
5

an exceptional demand curve can result from?
6

if the price of commodity X rises and consumers shift to commodity Y, then commodity X and Y are?
7

Economic problem arise in all society because?
8

which of the following is not emphasized in a production possibility curve

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning