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Short-run cost data of a perfectly competitive firm

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Reference no: EM132283842

Table 1

Q TC TVC

0 $1,000 $0

100 1,360 360

200 1,560 560

300 1,960 960

400 2,760 1,760

500 4,000 3,000

600 5,800 4,800

Table 1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.

What is the fixed cost of production?

Select one:

a. $500

b. $10

c. $0

d. $1000

Reference no: EM132283842

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