WAEC - Economics (2019 - No. 20)
A cost of production that is positively related to output is the
total fixed cost
average fioxed cost
variable cost
social cost
Penjelasan
Variable cost has a positive relationship with output in such a way that if a firm produces more output, the variable cost will be greater, and if a firm produces no output, then the variable cost will be zero. The variable cost depends on the level of output.