![]() AVERAGE FIXED COST (ATC) = TOTAL FIXED COST (TFC) QUANTITY (Q) Therefore TFC = AFC X Q 4. AVERAGE TOTAL COST (ATC) = TOTAL COST (TC) QUANTITY (Q) Therefore TC = ATC X Q 3. TOTAL COST (TC) = TOTAL FIXED COST (TFC) + TOTAL VARIABLE COST(TVC) Therefore TFC = TC - TVC and TVC = TC - TFC 2. Important formulae and information to note when dealing with the calculation of costs in the short-run period 1.
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