Thus average fixed cost is the fixed cost per unit of output. Suppose for a firm the total fixed cost is Rs. 2,000 when output is 100 units, average fixed cost (AFC) will be Rs. 2,000/100 = Rs. 20 and when output is expanded to 200 units, average fixed cost will be Rs. 2,000/200 = Rs.
On July 3, 1886, mechanical engineer Karl Benz drove the first automobile in Mannheim, Germany, reaching a top speed of 16 km/h (10 mph). The automobile was powered by a 0.75-hp one-cylinder four-stroke gasoline engine.
7.3 Early Petrol Powered Car Manufacturers. 1  1888 - Germany: Benz went into production and built about twenty-five vehicles up to 1892. 2  In 1894 he began mass production of the âViktoriaâ and âVeloâ cars. By 1895 his company, Benz & Cie., which he founded in 1871, had sold 1,132 vehicles.