At any given level of output, a firm's total variable cost equals
Total cost less than marginal cost
Total cost less than total fixed cost
Total cost less than average cost
Average variable cost and marginal cost
Correct answer is B
No explanation has been provided for this answer.
At any given level of output, the total cost of a firm equals the
Marginal cost plus the average cost
Fixed costs less its varriable cost
Average cost multiplied by variable cost
Economic cost multiplied by variable cost
Correct answer is C
No explanation has been provided for this answer.
Increasing returns to the variable factor
Increasing returns to scale
Constant returns to variable factor
External economies of scale
Correct answer is A
No explanation has been provided for this answer.
Macro-economics is a study of economics science from the point of view of
Resource markets or production units
Individual producers or consumers
Aggregate or general economy
Companies or individual firms
Correct answer is C
Macro-economics is the field of economics that studies the behaviour of the aggregate economy.
The five naira she spent on the book
Five naira real cash value
The mirror
The book
Correct answer is C
No explanation has been provided for this answer.