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Welcome to the Q&A for ECN/APEC 2010, where you can ask questions and receive answers from your fellow students, the TA, and your professor.

Please only ask questions about the material for the course. Try to create discussions about the material we see in class, instead of just thinking of economics in general (this is an introduction to microeconomics class, not a policy or government class).

For questions and discussions about course organization or other course related topics, come see us after class or during office hours.

Feel free to discuss quiz questions on the Q&A, but do not provide direct answers to quiz questions before the quiz's due date.

Practice quiz 11

–1 vote
14 views

(Table: Oil Production) Refer to the table. What are the fixed costs of production for this firm? 

i'm not sure how to find the fixed cost with what is given. 

asked May 1 by canvas-98fa74eec54bd (240 points)

1 Answer

+3 votes
You can tell that the answer is 30 because the variable costs to produce one unit is $4 and the average cost is $34. And when you subtract those you get $30.
answered May 1 by canvas-23d18cde7cf42 (265 points)
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