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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define total fixed cost.
💡 Hint: Think about expenses that don't change.
Question 2
Easy
What is the relationship between total variable cost and output?
💡 Hint: Variable costs change with production.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the formula for total cost?
- TC = TFC - TVC
- TC = TFC + TVC
- TC = TVC - TFC
💡 Hint: Think about how we assess all expenses.
Question 2
True or False: Total Fixed Cost changes with the level of production.
- True
- False
💡 Hint: Consider costs that are unaffected by production levels.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A firm pays Rs 100 for rent (TFC) and Rs 60 in materials (TVC) when producing 10 units. Determine TC, AVC, and AFC.
💡 Hint: Start by calculating total cost first, then break it down into averages.
Question 2
A company's SMC is Rs 14, and its AVC is Rs 12. What can you infer about the AVC if production increases?
💡 Hint: Refer back to the relationship between SMC and AVC.
Challenge and get performance evaluation