At its current short-run level of production, a firm's average variable costs equal $30.00 per unit, & its average fixed costs equal $25.00 per unit. Its total costs at this production level equal $3,500. 1. What is the firm's output level?

2. What are its total variable costs at this output level?

3. What are its total fixed costs?

Question

Lilliana Stone

Business

24 January, 02:59

At its current short-run level of production, a firm's average variable costs equal $30.00 per unit, & its average fixed costs equal $25.00 per unit. Its total costs at this production level equal $3,500. 1. What is the firm's output level?

2. What are its total variable costs at this output level?

3. What are its total fixed costs?

+1

Answers (1)

Know the Answer?

Kareem Browning · Answer 1

Answer: firm output level = $63.6

Total variable cost = $1650

Total fixed cost = $1250

Explanation:

ATC = TC/Q, Q = $3500/55 = $63.6

TVC = $30x 55=$1650

TFC = $25x 55 = $1250