Concept: Graphing Cost Curves

Problem: If average total cost is $50, quantity produced is 10 and total fixed cost $100, what is the total variable cost for the output of 10?

500

100

400

1000

Problem: Based on the graph below, at a quantity of 100, AFC is equal to:

$50

$200

$250

Need more information

Problem: When a firm is producing zero output, total cost equals:

Zero

Variable cost

Fixed cost

Average total cost

Marginal cost

Join thousands of students and gain free access to 32 hours of Microeconomics videos that follow the topics your textbook covers.

If you forgot your password, you can reset it.