Homework Answers
In the above table, the total fixed cost is $30.
At 0 units of output, Total cost is equal to total fixed cost.
Answer-13 The correct option is $10.
Marginal cost = ∆Total cost/∆Output
= 110-90/14-12
=20/2
=10
Answer-15 The correct option is $2.00
Total fixed cost =$30
Average fixed cost = Total fixed cost/15
=$2.00
Answer-16 The correct option is 110
Total cost = Average total cost ×Output
Average fixed cost = ATC -AVC
= 100-90
=10
Total fixed cost = AFC × Output
Output = 1100/10
=110
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