If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?
A)$320
B)$200
C)$520
D)$1,000

Name: If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost? A)$320 B)$200 C)$520 D)$1,000
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Question

​If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?
A)​$320
B)$200
C)$520
D)​$1,000

Quizplus · Accepted Answer

Total cost = (Average fixed cost + Average variable cost) x Quantity of output produced

Total cost = ($40 + $25) x 8 units

Total cost = $65 x 8 = $520

​If a Firm Produces 8 Units of Output with Average

If a Firm Produces 8 Units of Output with Average