EconomicsTheory of costs and revenueWAEC
A bakery has fixed costs of ₦50,000 and a variable cost of ₦200 per loaf. What is the total cost of 300 loaves?
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Answer: A. ₦110,000
TC = 50,000 + 200 × 300 = ₦110,000.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.