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Suppose the total fixed cost of a firm is $500, the total variable cost is $200, and the output produced is 5 units. The average fixed cost of the firm is ______.

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abiolataiwo2015

The average fixed cost of the firm is $100.

Average fixed cost

Using this formula

Average fixed cost=Total fixed cost/Out produced

Where:

Total fixed cost=$500

Out produced=5 units

Let plug in the formula

Average fixed cost=$500/5

Average fixed cost=$100

Therefore Average fixed cost is $100.

Learn more about Average fixed cost here:https://brainly.com/question/15263800

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