The the total fixed cost (tfc) of the firm when it produces 1 (one) unit of output will be $15
When Q = 1, TFC = $ 15
Note: TC = FC +VC At Q =3, FC = $ 15. The FC remains constant
Total fixed cost (TFC) is the cost that is constant regardless of the output level. For instance, depreciation, rent, wages, insurance, etc.
Both total fixed costs and total variable costs are included in total costs. The total of a company's fixed costs is the sum of all recurring, non-variable costs. Consider a business that pays $10,000 a month to lease office space, $5,000 a month to rent equipment, and $1,000 a month for utilities. The total fixed costs for the business in this scenario would be $16,000.
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