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The table below shows a firm's average total costs for different production levels in different size factories. Use this table to answer the following two questions. Small Factory Output Medium Factory Large Factory 50 $ 100.00 $ 150.00 $ 300.00 100 $ 90.00 $ 100.00 $ 180.00 150 $ 85.00 $ 90.00 $ 95.00 200 $ 95.00 $ 80.00 $ 85.00 250 $ 150.00 $ 97.00 $ 75.00 300 $ 370.00 $ 160.00 $ 100.00 350 $ 600.00 $ 285.00 $ 200.00 400 $ 850.00 $ 425.00 $ 310.00 6. Which of the following IS on the firm's long run average total cost curve? a) Output of 200 for an average total cost of $80. b) Output of 200 for an average total cost of $85. c) Output of 250 for an average total cost of $150. d) Output of 350 for an average total cost of $285. 

          The table below shows a firm's average total costs for different production levels in different size factories. Use this
table to answer the following two questions.
Small Factory
Output
Medium Factory
Large Factory
50
$
100.00
$
150.00
$
300.00
100
$
90.00
$
100.00
$
180.00
150
$
85.00
$
90.00
$
95.00
200
$
95.00
$
80.00
$
85.00
250
$
150.00
$
97.00
$
75.00
300
$
370.00
$
160.00
$
100.00
350
$
600.00
$
285.00 $
200.00
400
$
850.00
$
425.00
$
310.00
6. Which of the following IS on the firm's long run average total cost curve?
a) Output of 200 for an average total cost of $80.
b) Output of 200 for an average total cost of $85.
c) Output of 250 for an average total cost of $150.
d) Output of 350 for an average total cost of $285.
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The table below shows a firm's average total costs for different production levels in different size factories. Use this table to answer the following two questions. Small Factory Output Medium Factory Large Factory 50 100.00 150.00 300.00 100 90.00 100.00 180.00 150 85.00 90.00 95.00 200 95.00 80.00 85.00 250 150.00 97.00 75.00 300 370.00 160.00 100.00 350 600.00 285.00 200.00 400 850.00 425.00 310.00 6. Which of the following IS on the firm's long run average total cost curve? a) Output of 200 for an average total cost of 80. b) Output of 200 for an average total cost of85. c) Output of 250 for an average total cost of 150. d) Output of 350 for an average total cost of285.

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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Table to answer the following two questions. Output 50 100 150 200 250 300 350 400 Small Factory 100.00 90.00 85.00 95.00 150.00 370.00 600.00 850.00 Medium Factory Large Factory 150.00 300.00 100.00 180.00 90.00 95.00 80.00 85.00 97.00 75.00 160.00 100.00 285.00 200.00 425.00 310.00 6. Which of the following is on the firm's long run average total cost curve? a) Output of 200 for an average total cost of $80 b) Output of 200 for an average total cost of $85 c) Output of 250 for an average total cost of $150 d) Output of 350 for an average total cost of $285
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Transcript

-
0:00 Hello everyone.
00:02 So, first part of the question says that state the value of the firm's total fixed cost.
00:07 Give one example of fixed cost relevant to this firm.
00:11 So, in this case, firm's total fixed cost is rm200 because total cost which is the sum of total fixed cost plus total variable cost is rm200.
00:57 When firm produce zero units of bicycles and at zero unit of bicycle production, there is only fixed cost which is incurred.
01:06 Therefore, firm's total fixed cost is rm200...
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