Perfect Competition
AP Microeconomics · Flashcards · Application
AP MICROECONOMICS · FLASHCARDS
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QUESTION
Calculate marginal cost if
T
C
TC
T
C
rises from
100
100
100
to
150
150
150
with
10
10
10
units.
QUESTION
Find the average revenue when total revenue is
500
500
500
and output is
50
50
50
units.
QUESTION
Calculate average fixed cost if
F
C
=
100
FC = 100
F
C
=
100
and
Q
=
20
Q = 20
Q
=
20
.
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ANSWER
A
F
C
=
5
AFC = 5
A
F
C
=
5
. Average fixed cost equals
F
C
Q
=
100
20
\frac{FC}{Q} = \frac{100}{20}
Q
F
C
=
20
100
.
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