a) total fixed cost is 100(derived from total cost function). It is not depended on output.
b)"AFC=TFC\/Q."
"AFC(100)=100\/100=1."
"AFC(300)= 100\/300=1\/3."
Need a fast expert's response?
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!
Comments
Leave a comment