Post Utme Al Hikmah University 2024 Economics Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2024 Economics Objective / Multiple Choice
Question 7 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is considering two different production processes for its product. Process A has a fixed \cost of ₦100,000 and a variable \cost of ₦50 per unit. Process B has a fixed \cost of ₦150,000 and a variable \cost of ₦30 per unit. If the firm produces 10,000 units of the product, what is the total \cost of production for each process?

Answer Options

Correct Answer A. Process A: ₦1,500,000, Process B: ₦1,200,000
B. Process A: ₦1,200,000, Process B: ₦1,500,000
C. Process A: ₦1,000,000, Process B: ₦1,000,000
D. Process A: ₦1,500,000, Process B: ₦1,500,000
Correct Answer
A
Correct Option:
Process A: ₦1,500,000, Process B: ₦1,200,000

About This Question

This is Post Utme Al Hikmah University 2024 Economics Question 7. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.

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