Figure 7.5 Figure 7.5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry.
-Refer to Figure 7.5.The amount of the firm's fixed cost of production is -.

Question

Figure 7.5  Figure 7.5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry.
-Refer to Figure 7.5.The amount of the firm's fixed cost of production is -.

Quizplus · Accepted Answer

Fixed cost is the cost that does not change with the level of output. In this case, the fixed cost is $5400.

Figure 75 Figure 7