Answer to Question #296679 in Economics for amy

Question #296679

Total cost for producing the first unit is Rs. 240 while marginal cost is Rs. 90. What is the average fixed cost?

Expert's answer

If TC(1) = 240 (at Q = 1) and MC = 90, then TC(0) = FC = 240 - 90 = Rs. 150 and AFC1 = 150/1 = Rs. 150.

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