how to find total cost and average variable cost if total fixed cost is given (pls also provide with the formula apart from ur explanation)
TC=TVC+TFC
AVC=TVC/Q ,AFC= TFC/Q ,AC=TC/Q
here,TFC is given "12" and it always remains constant at every level of output even at o level also...
eg. OUTPUT TVC TFC TC AFC AVC AC
0 0 12 12 - - -
1 6 12 18 12 6 18
2 10 12 22 6 5 11
3 15 12 27 4 5 9
4 24 12 36 3 6 9
5 35 12 47 2.4 7 9.4
AVC=TVC/Q ,AFC= TFC/Q ,AC=TC/Q
here,TFC is given "12" and it always remains constant at every level of output even at o level also...
eg. OUTPUT TVC TFC TC AFC AVC AC
0 0 12 12 - - -
1 6 12 18 12 6 18
2 10 12 22 6 5 11
3 15 12 27 4 5 9
4 24 12 36 3 6 9
5 35 12 47 2.4 7 9.4