Based on the table above, what is the total fixed cost for this firm? A) $30 B) $20 C) $50 D) $40

Question:

Output Total Cost
0 $40
10 $60
20 $90
30 $130
40 $180
50 $240

Based on the table above, what is the total fixed cost for this firm?

A) $30

B) $20

C) $50

D) $40

Variable and Fixed Costs:

Variable costs are costs that are directly related with how much output is produced. Fixed costs, on the other hand, are costs that are the same regardless of how much output is produced.

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Identifying Fixed Costs & Variable Costs for Producers

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Chapter 4 / Lesson 3
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Fixed costs are the cost per item regardless of scale of production, while variable costs change depending on how many units are created. Explore the significance of these two costs to producers in manufacturing and pricing.


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