A firm produces 1000 units per week.It hires 10 full-time workers (40 hours/week each) at an hourly wage of $20.Raw materials costs $5 per unit. Rent for the factory is $1,500 per week.What are the overall costs for the week?
A) total variable cost is $5,000;total fixed cost is $1,500;total cost is $6,500
B) total variable cost is $5,000;total fixed cost is $9,500;total cost is $14,500
C) total variable cost is $13,000;total fixed cost is $1,500;total cost is $14,500
D) total variable cost is $13,000;total fixed cost is $9,500;total cost is $22,500
Correct Answer:
Verified
Q9: Total costs increase from $1,500 to $1,800
Q10: If AVC=$5 and AFC=15,then AC=
A)$10
B)$5
C)$15
D)$20
Q11: Use the following to answer question
Q12: Use the following to answer question
Q13: Total cost divided by the number of
Q15: Use the following to answer question
Q16: Use the following to answer question
Q17: Total costs increase from $1,500 to $1,800
Q18: Total costs increase from $1,500 to $1,800
Q19: Use the following to answer question
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