Answer to Question #226320 in Microeconomics for Madu

Question

The following table provides data on cost of production of product X produced in Bibila farm.

Production of X (Kg)

Total Cost (Rs)

100

1

128

2

148

3

164

4

178

5

190

6

207

7

229

8

259

9

299

10

353

i. Find fixed cost.

Answer 1

Fixed cost=Total cost $\times$ output