Question-suppose a firm is producing 1000 units of output q, Ask an Expert

Economics

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Suppose a firm is producing 1,000 units of output (Q). Its average fixed costs are $100. Its average variable costs are $50. What is the total cost (TC) of producing 1,000 units of output (Q)? It the price (P) of the good is $200, what is total revenue? What is total profit?

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The question from Economics and it is about calculating the total cost of producing 1000 units with fixed and variable costs present. The answer has the all calculations in detail.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91396184
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