Wage bill ₦6,000, Rent, Rates, Depreciation ₦200, Raw...
Consider the following figures which refer to a firm's production department during one week:
Wage bill ₦6,000, Rent, Rates, Depreciation ₦200, Raw materials ₦800, Power ₦300.
Total variable costs incurred during the week are
₦7,300
₦7,100
₦1,300
₦1,100
Correct answer is B
Total variable costs also known as variable cost. TVC is the cost that varies or changes with the level of output.
TVC = 6000 + 800 + 300
TVC = ₦7100
A supply curve parallel to the X- axis indicates? ...
The demand for a commodity that serves two or more purposes is ...
A scale of preference is a list ...
When the price of a good is above the equilibrium, there will be ...
A company is said to be highly geared if the ...
Which of the following is not an objective of the Indigenisaton policy in Nigeria? To ...
At the equilibrium price, quantity demanded is ...
Price mechanism determines the prices of commodities through ...
The final stage in the production process of any commodity involves its movement from the ...