Post Utme Lautech 2021 Economics Question 24

Practice objective / multiple choice question 24 from the 2021 Post Utme Lautech Economics examination.

Post Utme Lautech 2021 Economics Objective / Multiple Choice
Question 24 POST_UTME_LAUTECH • 2021 • ECONOMICS • objective

A firm is considering two different production processes. Process A has a fixed \cost of ₦500,000 and a variable \cost of ₦200 per unit. Process B has a fixed \cost of ₦300,000 and a variable \cost of ₦300 per unit. If the firm produces 10,000 units, what is the total \cost of each process?

Answer Options

Correct Answer A. Process A: ₦2,500,000; Process B: ₦2,300,000
B. Process A: ₦2,300,000; Process B: ₦2,500,000
C. Process A: ₦2,000,000; Process B: ₦2,400,000
D. Process A: ₦2,400,000; Process B: ₦2,000,000
Correct Answer
A
Correct Option:
Process A: ₦2,500,000; Process B: ₦2,300,000

About This Question

This is Post Utme Lautech 2021 Economics Question 24. It is one of the objective questions from the 2021 Post Utme Lautech Economics examination.

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