Answer the Question on the Basis of the Following Information

question 84

Multiple Choice

Answer the question on the basis of the following information: $$\begin{array} { l l } \text { TFC = Total Fixed Cost } & Q = \text { Quantity of Output } \\\text { MC = Marginal Cost } & P = \text { Product Price } \\\text { TVC = Total Variable Cost } &\end{array}$$ Refer to the information.Average fixed cost is:

• A)
• \(\text { TVC - MC }\)
• B)
• \(\frac { M C } { Q }\)
• C)
• \(\frac { \text { TFC } } { Q }\)
• D)
• \(\frac { \mathrm { TVC } } { Q }\)

---

Definitions:

Barbecue Plates

A traditional serving of various barbecued meats and accompanying side dishes, often enjoyed at social gatherings or restaurants specializing in barbecued cuisine.

Consumer Surplus

The gap in the price consumers are willing to shell out for a good or service versus what they actually do.

Consumer Surplus

The disparity between what consumers are prepared and capable of paying for a product or service versus what they actually end up paying.

Total Expenditure

The sum amount of money spent by consumers to purchase a certain quantity of goods or services.