In the short run, if average variable costs equal $60, average total costs equal $70, and output equals 100, the total fixed cos

Question

earnstyle [38]

2 years ago

13

In the short run, if average variable costs equal $60, average total costs equal $70, and output equals 100, the total fixed cos

ts should equal.

Business

1 answer:

Leto [7] · Answer 1 · 2023-01-02T19:12:10+03:00

The total fixed cost should equal $1000.

<h3>What is the total fixed cost?</h3>

The first step is to determine the average fixed cost. The average fixed cost can be determined by subtracting the average variable costs from average total costs.

$70 - $60 = $10

Total fixed cost is the product of average fixed cost and output

100 x $10 = $1000

To learn more about cost, please check: brainly.com/question/26502221