Question Tag: free competition features

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EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

Question

a. The cost of producing yams may be classified into two, Name the two,

b. How is marginal cost calculated?

c. At zero unit of production, what is the relationship between the fixed cost and the total cost?

d. Name any four main features of free competition.

Answer

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Tags: Cost Classification, fixed and total costs, free competition features, Marginal Cost
Level: Level 1

Topic: Product and Output – The Firm
Series: JULY 2020

EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

Question

a. The cost of producing yams may be classified into two, Name the two,

b. How is marginal cost calculated?

c. At zero unit of production, what is the relationship between the fixed cost and the total cost?

d. Name any four main features of free competition.

Answer

Login or create a free account to see answers

Find Related Questions by Tags, levels, etc.

Tags: Cost Classification, fixed and total costs, free competition features, Marginal Cost
Level: Level 1

Topic: Product and Output – The Firm
Series: JULY 2020

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EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

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Question Tag: free competition features

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EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

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EIB – JUL 2020 – L1 – Q3 – Costs and Competition

Classifies production costs, explains marginal cost calculation, relationship at zero production, and features of free competition.

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