Total cost is the addition of

Assessment: WAEC SSCE - Economics - 1998 (Objective) Subject: Economics

Question 1 Report

Total cost is the addition of
Answer Details
Total cost is the sum of all costs incurred by a business in producing a given level of output. It includes both fixed costs (such as rent and salaries) and variable costs (such as raw materials and production costs). Therefore, the correct answer is "fixed cost and variable cost".
Read lesson note on The Theory Of Supply (JAMB)
Read lesson note on Theory Of Costs (JAMB)
View Answer

Related Questions

1

At what price will a trader be ready to sell 6 oranges using the equilibrium below. p = 1/2 q + 2. where p is price and q is quantity?
2

the study of Economics enables the individuals to
3

which of the following will shift the demand curve for Milo to the right?
4

one way of solving the problem of scarcity that faces the individuals is for
5

The introduction of division of labour in a firm will lead to?
6

If the last Naira spent on each commodity by a consumer gave him equal satisfaction , it means the consumer has been able to
7

An ?exceptional demand is one in which
8

The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be

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