Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
A) total cost
B) average fixed cost
C) fixed cost
D) variable cost
E) Carolyn can determine all of the above costs given the information provided.

Question

Quizplus · Accepted Answer

Carolyn can determine all of the above costs because average total cost (ATC) is the sum of average variable cost (AVC) and average fixed cost (AFC). From ATC and AVC, she can find AFC, and then use these to find total cost (TC), fixed cost (FC), and variable cost (VC) by multiplying by the quantity of output.

Carolyn Knows Average Total Cost and Average Variable Cost for a Given