For the same firm, what is the average total cost? A firm produces 200 units hourly with $150 in labor costs an hour, $8...
For the same firm, what is the average total cost?
A firm produces 200 units hourly with $150 in labor costs an hour, $80 in materials costs an hour, and a fixed cost that works out to $20 per hour.
a. $1.15
b. $1.25
c. $250
d. $1
Homework Answers
A firm produces 200 units hourly with $150 in labor costs an hour, $80 in materials costs an hour, and a fixed cost that works out to $20 per hour.
Q=200
Total variable cost=$150+$80
Fixed cosr=$20
Total cost=TVC+TFC
=230+20
TC=$250
Average total cost=TC/Q
=250/200
=1.25
Average total cost=$1.25
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