Scenario 14-4 A Competitive Firm Sells Its Output for $20 Per Unit

question 79

Essay

Scenario 14-4
A competitive firm sells its output for $20 per unit. When the firm produces 200 units of output, average variable cost is $16, marginal cost is $18, and average total cost is $23.
-Refer to Scenario 14-4. Calculate the firm's fixed cost at 200 units of output.

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