EconomicsTheory of costs and revenueJAMB
Total cost is ₦9,000 when output is 300 and total fixed cost is ₦6,000. Average variable cost is
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Answer: C. ₦10
Variable cost = 3,000; 3,000 ÷ 300 = ₦10.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.