A firm’s short-run total costs (SRTC) are described by SRTC = $ (10 000 + 5X^2), with X showing the output level. What is the firm’s average fixed cost?
- A$10 000
- B5X / 10 000 (?)
- C$10 000 / X
- D2 5X 000 $10 (?)
Economics 9708 · AS & A Level · 7.5
Economics 9708 · AS & A Level · 7.5
A firm’s short-run total costs (SRTC) are described by SRTC = $ (10 000 + 5X^2), with X showing the output level. What is the firm’s average fixed cost?