Question 13
Question 13 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
3. Microeconomic decision...
3.7. Firms’ costs, revenue and obje...

Total cost (TC), average total cost (ATC), fixed cost (FC), variable cost (VC), average fixed cost (AFC), average variable cost (AVC).

3. Microeconomic decision...
3.6. Firms and production

Influences to include demand for the product, the price of different factors of production, their availability and their productivity.