Answer = $9
Total fixed we can found when output is Zero. Total cost at output zero is total fixed cost.
Here total fixed cost = $36.
Average fixed cost = total fixed cost / quantity
= 36 / 4 = $9.
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The table shows the costs that a firm faces when producing corn in a perfectly competitive...
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The table shows the costs that a firm faces when producing corn in a perfectly competitive market. Use it to answer the following questions. Show your work. Quantity (bushels) | 0 1 2 3 4. 5 6 7 8 9 10 Total Cost (dollars) | 36 | 46 54 60 | 64 | 65 | 69 | 7792 117 | 160 If the price for corn is $7 per bushel, how many bushels of corn should the farm grow?
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