O-LevelEconomicsMicroeconomic decision makers2281/11 · May/June 2019 · Q151 Mark

An entrepreneur buys a workshop for $200000 to make plastic boxes. In the first year of operation he spends $70000 on materials, employs ten production workers paid by the amount produced (piece rate) at a total cost of $80000 and buys two delivery vehicles for $10000 each. What are his total variable costs?

A$100000

B$150000

C$220 000

D$370000

✓ Correct answer

B: $150000

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2019 Paper 1 Variant 1, question 15.

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