Question 9

Complete the following cost schedules and answer the questions that follow. 

Output Total Cost TC Average cost AC Marginal Cost
1 18 8 -
2 14 ? -
3 ? 6 -
4 20 ? -
5 ? 6 -
6 46 ? -

(a) At what output is AC at the minimum?
(b)At what output is MC at the minimum
(c) At what output does AC start increasing?
(d) At what output does MC start to be greater than AC
(e) What is the maximum output? 
 

Theory

Question details

Exam body
WAEC
Subject
Economics
Year
1991
Question no.
#9
Type
Theory

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