At an output level of 50 units per day, a firm has average total costs of $60 and average variable costs of $35. Its total fixed
costs are____________.
1 answer:
Answer:
$ 1250
Step-by-step explanation:
output = 50 units per day
average total cost = $ 60
total cost = output × average total cost =50 × 60 = $ 3000
total variable cost = output × average variable cost = 35 × 50 = $ 1750
total cost = total fixed cost + total variable cost
total fixed cost = total cost - total variable cost = $ 3000 - $ 1750 = $ 1250
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