Did I do this correctly? ATC AVC Dollars D AFC o Quantity Refer to the above...

Question

Question

ATC AVC Dollars D AFC o Quantity Refer to the above diagram. At output level Q, total variable cost is: A) OBEQ. B) BCDE. C)

Did I do this correctly?

Answer 1

Answer #1

Answer-1 The correct option is A.) 0BEQ

Total Variable Cost= (Average Variable Cost)* Output

=0BEQ

Answer-2 The correct option is B.) BCDE

Total Fixed Cost = Total Cost- Total Variable Cost

BCDE represents the differnce between the total cost and total variable cost.

Total fixed cost= 0CDQ-0BEQ

Answer-3 The correct option is C.) 0BEQ plus BCDE

Total Cost = Total Variable Cost+ Total Fixed Cost

= 0BEQ plus BCDE

Answer-4 The correct option is C.) is measured by both QF and ED

QF represents the average fixed cost.

ED represents the difference betwen the average total cost and average variable cost which is average fixed cost.

Answer 2

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