What is Average Fixed Cost or AFC
What is Average Fixed Cost. Also provide its formula?
Expert
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.
Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Q : Output and pricing performance of firms Contestable markets theory recommends that even though an industry has only one producer, in that case the output and pricing performance of which firm will resemble which of a competitive industry as long like: (1) there are numerous active buyers in
Contestable markets theory recommends that even though an industry has only one producer, in that case the output and pricing performance of which firm will resemble which of a competitive industry as long like: (1) there are numerous active buyers in
A minimum legal wage of $5 per hour in this market for unskilled labor would: (w) have no effect on employment or the wages paid. (x) create new jobs for 3,000 unskilled workers. (y) move some low-skilled workers above the poverty line. (z) create une
Can someone help me in finding out the right answer from the given options. Which of the given below is not a legal form of the business in United States? (1) Partnership. (2) Corporation. (3) Limited partnership. (4) Producer cooperative. (5) All the above are
Compared to the requirement and equity standards, the contribution standard of income distribution refers to: (1) generate the weakest incentives for production. (2) best provide for people in poverty. (3) be most compatible along wit
Carlos and Ivana are friends and roommates. They eat together despite who cooks. But this cooking game is repeated mostly every evening, across time the probable result would be which: (1) neither Carlos nor Ivana cook, nor do they eat. (2) Carlos alone cooks for both
Can someone please help me in finding out the accurate answer from the following question. The Wage discrimination needs a firm to possess: (1) Monopsony power. (2) Monopoly power. (3) Oligopoly power. (4) None of these—no po
Expansion of the industry in increasing cost industries causes: (w) increases in each firm’s costs at every level of output. (x) decreases in each firm’s costs at every level of output. (y) all firms to suffer long-run economic losses. (z)
Elucidate the Primary functions of money. Answer: Primary functions: 1) Medium of Exc
Multiplier: It is the number by which change in investment should be multiple in order to find out the resultant change in income and output.
18,76,764
1921888 Asked
3,689
Active Tutors
1443596
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!