The formula for ________ is TFC/q.
A) total cost
B) average fixed costs
C) total variable costs
D) average total cost

Question

Quizplus · Accepted Answer

The formula TFC/q, where TFC stands for Total Fixed Costs and q stands for the quantity of output, is used to calculate the Average Fixed Costs (AFC). This formula divides the total fixed costs by the quantity of output produced to find the fixed cost per unit of output.

The Formula for ________ Is TFC/q