Dividing total variable cost by quantity of output gives
Total cost (TC)
Total Fixed Cost (TFC)
Variable cost (VC)
Average Variable Cost (AVC)
Correct answer is D
No explanation has been provided for this answer.
One of the internal economies of large scale production is
Administrative economies
Market economies
Regional economies
Horizontal economies
Correct answer is B
No explanation has been provided for this answer.
In production, the formula total product/number of men employed
is used to calculate
Total product
Average product
Marginal product
Fixed product
Correct answer is B
No explanation has been provided for this answer.
70
74
76
86
Correct answer is B
Qs + 70 + 1/2 P,
when price is 8
Qs = 70 + (1/2 x 8)
Qs = 70 + 4
Qs = 74
Which of the following is a measure of central tendency?
Percentage
Graph
Variance
Median
Correct answer is D
No explanation has been provided for this answer.