O-LevelEconomicsMicroeconomic decision makers2281/11 · May/June 2020 · Q121 Mark

The table shows total fixed and total variable costs at different levels of output for a firm. At which level of output is average total cost lowest? [Figure 12.1]

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A100

B200

C300

D400

✓ Correct answer

D: 400

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2020 Paper 1 Variant 1, question 12.

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