11. If average total cost is 100 for a given output and marginal cost is 70) we then know that average fixed cost is: a. 30. AFC aTC auto VAIC -Fo ME-70 b. 170. C. 70. Not possible to determine with the information given. AFC=ATC

11. If average total cost is 100 for a given output and marginal cost is 70) we then know that average fixed cost is: a. 30. AFC aTC auto VAIC -Fo ME-70 b. 170. C. 70. Not possible to determine with the information given. AFC=ATC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

11. If average total cost is 100 for a given output and marginal cost is 70) we then know
that average fixed cost is:
a. 30.
AFC aTC
auto
VAIC -Fo
ME-70
b. 170.
C. 70.
Not possible to determine with the information given.
AFC=ATC

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