Scenario 13-16
A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the 7,000 staplers, it incurred variable costs of $28,000 and a total cost of $45,000.
-Refer to Scenario 13-16.The firm's fixed cost was

Question

Quizplus · Accepted Answer

The total cost incurred in producing and selling 7,000 staplers was $45,000, out of which $28,000 was variable cost. Therefore, the remaining $17,000 is the fixed cost (Total cost = Fixed cost + Variable cost).

Scenario 13-16 A Certain Firm Produces and Sells Staplers. Last Year, It