If ATC is $4 when q = 37, then fixed costs are:A.$77.70B.$148C.$70.30D.$81.40Please show work with formulas, I was confused on how to find fixed costs from just ATC and quantity.Figure 21.1
Price or Cost
(dollars/bushel)
MC
а
ATC
b
f
4.90
AVC
deg
3.90
3.107
h
m
1.90
n
1.10
0
P
0
13 18 24
37
46 50 54
Quantity
(thousands of
bushels/year)
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