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 fixed cost of this firm when it produces 14 units of 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 fixed cost of this firm when it produces 14 units of output?

Quizplus · Accepted Answer

Fixed costs are costs that do not change with the level of output. Since the question does not provide a table, we cannot determine the fixed cost directly from the data. However, the concept of fixed cost implies it remains constant regardless of the output level. Therefore, without specific data, we can't identify the exact fixed cost from the options given, but the concept remains that fixed costs are those that do not vary with production levels.

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