A firm’s SMC schedule is shown in the following table. The total fixed cost of the firm is Rs 100. Find the TVC, TC, AVC and SAC schedules of the firm.
Q | SMC |
0 | - |
1 | 500 |
2 | 300 |
3 | 200 |
4 | 300 |
5 | 500 |
6 | 800 |
TVC = SMCN + SMCN+1
AVC = TVC / Q
TC = FC + TVC
SAC = TC / Q
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