Use the following to answer questions: Table: Competitive Firm
-(Table: Competitive Firm) Refer to the table. The fixed cost for this firm is:
A) $80.
B) $90.
C) $50.
D) $100.

Question

Use the following to answer questions: Table: Competitive Firm 
-(Table: Competitive Firm) Refer to the table. The fixed cost for this firm is:
A) $80. 
B) $90. 
C) $50. 
D) $100.

Quizplus · Accepted Answer

Fixed cost is the same regardless of the quantity produced, and it is equal to the vertical intercept of the total cost curve. In this table, the vertical intercept is $50, thus the fixed cost is $50.

Use the Following to Answer Questions: Table: Competitive Firm