Post Utme Igbinedion University 2022 Economics Question 30

Practice objective / multiple choice question 30 from the 2022 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2022 Economics Objective / Multiple Choice
Question 30 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is considering two production processes. Process A has a fixed \cost of $10,000 and a variable \cost of $5 per unit. Process B has a fixed \cost of $20,000 and a variable \cost of $3 per unit. If the firm produces 10,000 units, what is the total \cost of each process?

Answer Options

Correct Answer A. $50,000 for Process A and $40,000 for Process B
B. $40,000 for Process A and $50,000 for Process B
C. $30,000 for Process A and $60,000 for Process B
D. $60,000 for Process A and $30,000 for Process B
Correct Answer
A
Correct Option:
$50,000 for Process A and $40,000 for Process B

About This Question

This is Post Utme Igbinedion University 2022 Economics Question 30. It is one of the objective questions from the 2022 Post Utme Igbinedion University Economics examination.

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