average fixed cost
Not what you're looking for?
A firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is $5 per unit. The firm's:
a. marginal cost is $8.
b. total variable cost is $300.
c. average fixed cost is $3.
d. average total cost is $500.
You must show these math calculations.
Purchase this Solution
Solution Summary
The solution finds the average fixed costs.
Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.