Economics 0455 · IGCSE · Firms’ costs, revenue and objectives

Firms’ costs, revenue and objectives — practice question

The table presents the daily output and costs for four firms that produce chairs. Which firm has the greatest average cost of production?

  • Aoutput $6$, fixed costs $100$, variable costs $140$
  • Boutput $9$, fixed costs $30$, variable costs $150$
  • Coutput $12$, fixed costs $200$, variable costs $160$
  • Doutput $15$, fixed costs $120$, variable costs $330$

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