O-LevelEconomicsMicroeconomic decision makers2281/11 · Oct/Nov 2010 · Q221 Mark

The table shows a firm's fixed and variable costs at four levels of output. output (units) fixed costs () variable costs () 2 50 110 3 50 130 4 50 210 5 50 300 At which level of output is average cost at its lowest?

✓ Correct answer

B: 3

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2010 Paper 1 Variant 1, question 22.

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