Assume that in the short-run, a firm is producing 100 units of output. The average total cost is $200, and the average fixed cost is $50. How much is the total variable cost?
Added by Billy M.
Step 1
Average total cost = Average fixed cost + Average variable cost $200 = $50 + Average variable cost Average variable cost = $200 - $50 Average variable cost = $150 Show more…
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