The following table shows the output and total cost for a firm in a purely competitive industry Output TC AC MC 0 40 1 95 2 115 3 130 4 150 5 175 6 210 7 260 8 330 Determine the fixed cost of the firm.

The following table shows the output and total cost for a firm in a purely competitive industry Output TC AC MC 0 40 1 95 2 115 3 130 4 150 5 175 6 210 7 260 8 330 Determine the fixed cost of the firm.

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

The following table shows the output and total cost for a firm in a purely competitive industry

Output	TC	AC	MC
0	40
1	95
2	115
3	130
4	150
5	175
6	210
7	260
8	330

Determine the fixed cost of the firm.

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