price =18 I do not understand how to get the TFC and the TVC, can you...

Question

Question

price =18

I do not understand how to get the TFC and the TVC, can you please show me step ny step on how you get those two. Thank you

Also would 30 be the TFC even with a different price?

Answer 1

Answer #1

TFC: It is the fixed cost which does not change with the output level

TVC: It is the variable cost which change with the output level

TFC is independent of price and hence any changes in price would not affect the fixed cost

Answer 2

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