-Figure 5.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 100, the average fixed cost is

Name: -Figure 5.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 100, the average fixed cost is
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Question

Quizplus · Accepted Answer

Average fixed cost = (Total cost - Total variable cost) / OutputAt Q = 100, Total cost = $400, Total variable cost = $200Average fixed cost = ($400 - $200) / 100 = $2

-Figure 53 Shows a Firm's Marginal Cost, Average Total Cost, and and Average