Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Discover solutions to your questions from experienced professionals across multiple fields on our comprehensive Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Use the following table to answer the next question.

[tex]\[
\begin{tabular}{|c|c|}
\hline
Output & Total Cost \\
\hline
0 & \$10 \\
\hline
1 & \$20 \\
\hline
2 & \$28 \\
\hline
3 & \$38 \\
\hline
4 & \$53 \\
\hline
5 & \$73 \\
\hline
6 & \$98 \\
\hline
\end{tabular}
\][/tex]

The total fixed cost of production is:

Sagot :

GinnyAnswer
To determine the total fixed cost of production, we need to identify the cost that does not change with the level of output. Fixed costs are the costs that remain constant regardless of the quantity of output produced.

1. Start by identifying the total cost for a production level close to zero. In this table, the lowest output provided is 1.

2. At an output level of 1, the total cost is given as \[tex]$20. Since fixed costs do not vary with the output level, the total fixed cost of production is the total cost incurred when the output is at its lowest. Thus, the total fixed cost is \$[/tex]20.
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.