- Question 13 Patricia Withdraws R10 000 From Her Savings Account On Which She Earns Interest Of 10 Per Annum To Purchas 1 (40.59 KiB) Viewed 128 times
QUESTION 13 Patricia withdraws R10 000 from her savings account on which she earns interest of 10% per annum) to purchase a new computer which she will be able to use in her consultancy for a period of five years. The interest that she would have eamed (10% per annum) forms part of her economic costs of production in the first year. Note, you will lose 50% of the mark for this question if you choose the incorrect option. A TRUE B. FALSE QUESTION 14 Average fixed cost decreases, reaches a minimum and then increases. Note, you will lose 50% of the mark for this question if you choose the incorrect option. A TRUE B. FALSE QUESTION 15 if marginal cost is less than average cost, average cost decreases. Note, you will lose 50% of the mark for this question if you choose the Incorrect option. A TRUE B. FALSE QUESTION 16 The law of diminishing marginal return applies to the short run only (le to a situation in which at least one of the firm's inputs is fixed). Note, you will lose 50% of the mark for this question if you choose the Incorrect option A TRUE B. FALSE QUESTION 17 Use the data in the following table to answer the question. Output Total cost (Units) 0 1 2 (R) 100 110 130 166 220 300 3 4 5 The average variable cost of the third unit is