If average total cost is $50 and average fixed cost is $15 when output is 20 units,what is the firm's total variable cost at that level of output?

Name: If average total cost is $50 and average fixed cost is $15 when output is 20 units,what is the firm's total variable cost at that level of output?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Average variable cost can be calculated as:
AVC = ATC - AFC
$50 - $15 = $35
Therefore, total variable cost can be calculated as:
TVC = AVC x Q
$35 x 20 = $700

If Average Total Cost Is $50 and Average Fixed Cost