Post Utme Babcock University 2023 Economics Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2023 Economics Objective / Multiple Choice
Question 18 POST_UTME_BABCOCK_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is considering two different production processes. Process A has a fixed \cost of ₦1000 and a variable \cost of ₦2 per unit, while process B has a fixed \cost of ₦500 and a variable \cost of ₦3 per unit. If the firm produces 1000 units, what is the total \cost of each process?

Answer Options

Correct Answer A. Process A: ₦2000, Process B: ₦3000
B. Process A: ₦3000, Process B: ₦2000
C. Process A: ₦4000, Process B: ₦2000
D. Process A: ₦2000, Process B: ₦4000
Correct Answer
A
Correct Option:
Process A: ₦2000, Process B: ₦3000

About This Question

This is Post Utme Babcock University 2023 Economics Question 18. It is one of the objective questions from the 2023 Post Utme Babcock University Economics examination.

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