Post Utme Economics Questions
Question 296:
Private cost refers to:
- A Government infrastructure expense
- B Cost borne by producer
- C Consumer welfare reduction
- D Cost affecting entire society
Question 297:
Which cost changes directly with output level?
- A Fixed production cost
- B Variable production cost
- C Sunk production cost
- D Historical accounting cost
Question 298:
Which concept involves unavoidable past expenses?
- A Marginal production expense
- B Opportunity production cost
- C Variable production charge
- D Sunk production cost
Question 299:
One cause of diseconomies of scale is:
- A Administrative inefficiency growth
- B Better technological advancement
- C Increased production efficiency
- D Improved worker specialization
Question 300:
If TFC = ₦400 and TVC = ₦600, calculate total cost:
- A ₦1,000
- B ₦400
- C ₦200
- D ₦600