Figure 8-14 The following question(s) refer(s) to the below cost curves for one very small firm in a large market.

Refer to Figure 8-14. If the firm produces 10 units of output, its total fixed cost is

Question

Figure 8-14 The following question(s) refer(s) to the below cost curves for one very small firm in a large market.

Refer to Figure 8-14. If the firm produces 10 units of output, its total fixed cost is

Quizplus · Accepted Answer

At 10 units of output, the average variable cost is $6, so the total variable cost is 10 x $6 = $60. Adding this to the total fixed cost of $0, the total cost of producing 10 units is $60.

Figure 8-14 the Following Question(s) Refer(s) to the Below Cost