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oksano4ka [1.4K]
3 years ago
7

A firm's total output is 1500 units. The same firm's average variable cost is equal to $5 while its average fixed cost is equal

to $15. How much is the firm's total cost of production
Business
1 answer:
kvv77 [185]3 years ago
3 0

Answer:

$30,000

Explanation:

Total cost of production = Total unit cost x units produced

hence,

Total cost of production = ($5 + $15) x 1500 units

                                        =  $30,000

The firm's total cost of production is $30,000

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