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Economics · May / June 2025 · Paper 12 · Question 14

2281Firms’ costs, revenue and objectives

The table shows the daily output and costs of four firms making chairs. Which firm has the highest average cost of production?

  1. Aoutput 6, fixed costs $100, variable costs $140
  2. Boutput 9, fixed costs $30, variable costs $150
  3. Coutput 12, fixed costs $200, variable costs $160
  4. Doutput 15, fixed costs $120, variable costs $330

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Correct answer: A. output 6, fixed costs $100, variable costs $140

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