Suppose a firm has average total cost = 54 and average variable cost = 24. If...

Suppose a firm has average total cost = 54 and average variable cost = 24. If the firm's total fixed cost = 268, then how much output is the firm producing? Round to two decimal places.

Solutions

Expert Solution

TFC/Q = AFC

268 /Q = AFC

Now, AFC+AVC = ATC

268/Q + 24 = 54

268/Q = 30

Q = 268/30 = 8.93

Rahul Sunny answered 1 year ago

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