A firm that closes down will still incur

Assessment: WAEC SSCE - Economics - 2022 (Objective) Subject: Economics

Question 1 Report

A firm that closes down will still incur
Answer Details
A firm that shut down will earn zero revenue and its variable cost of producion is also zero, so the firm's total cost of production is equal to its fixed cost. However, the firm will still incur fixed cost.
Read lesson note on The Theory Of Production (JAMB)
Read lesson note on Theory Of Costs (JAMB)
View Answer

Related Questions

1

Cooperative societies are formed mainly to
2

Which of the following factors is not a cause of change in demand? Changes in
3

A minimum price legislation is also called
4

Scale of preference shows
5

The use of the bank rate, cash ratio and open market operations constitute
6

If the quantity demanded of a commodity increases from 20 units to 30 units when there is an increase in price from $4.00 to $5.00, the elasticity of demand is
7

Gross National Product (GNP) less the provision for the wear and tear of assets is the
8

The sufficient condition for a firm to be in equilibrium is that the

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