Economics · May / June 2026 · Paper 11 · Question 15
2281Firms’ costs, revenue and objectives
The table shows the output and total cost of a firm. | output (units) | total cost ($) | |---|---| | 0 | 30 000 | | 10 000 | 100 000 | | 20 000 | 400 000 | | 30 000 | 500 000 | What is the average fixed cost (AFC) of producing 20 000 units?
- A$0.50
- B$1.00
- C$1.50
- D$20.00
As printed in the paper
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Correct answer: C. $1.50
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