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WAEC Economics 2011 Question 17

Question 17

Theory of Costs and Revenue

Which of the following does not change in the short run?

  1. A.Variable cost
  2. B.Marginal cost
  3. C.Total cost
  4. D.Fixed cost
Show the answer and explanation

Answer: D (Fixed cost)

Explanation

Fixed costs stay the same whatever is produced in the short run.