The following table shows the total output, variable costs, fixed costs, total costs, average total costs, and marginal costs of a firm, with some cells in the table intentionally left blank.

-Refer to the table above.What is the total cost of this firm when it doesn't produce any output?

Question

The following table shows the total output, variable costs, fixed costs, total costs, average total costs, and marginal costs of a firm, with some cells in the table intentionally left blank.
 
-Refer to the table above.What is the total cost of this firm when it doesn't produce any output?

Quizplus · Accepted Answer

The total cost of a firm when it doesn't produce any output is its fixed costs, which do not vary with the level of production. This is typically referred to as the total fixed cost.

The Following Table Shows the Total Output, Variable Costs, Fixed