What is Average Fixed Cost or AFC
What is Average Fixed Cost. Also provide its formula?
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Average Fixed Cost (AFC): It is the product in firm’s total fixed cost divided by the total number of units of the product generated, or AFC = TFC/Q. This is per unit cost. Average fixed cost is one of two kinds of cost which the firm has in short run. In short run, the fixed costs symbolize the firm’s costs which do not differ as the firm modifies its output. Such costs exist even when the firm shuts down, or generated nothing.
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The equilibrium prices for cranberries within the short run of: (w) P1. (x) P2. (y) P3. (z) P4. Discover Q & A Leading Solution Library Avail More Than 1438947 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1953876 Asked 3,689 Active Tutors 1438947 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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