Suppose a firm produces 20 units of output per month and has a total variable cost of R3 000 per month. If
its average fixed costs are R400 per month, what are its total costs per month?
1
Expert's answer
2017-04-26T10:47:08-0400
Total cost per month t is equal to sum of fixed and variable costs Variable costs per month are R3000 Fixed costs per month are R400 (its not per unit, its per month!) So total costs are 3000+400=R3400
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