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A firm has fixed costs of $1000 and variable costs of $5 per unit. If it sells 2

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Question: A firm has fixed costs of $1000 and variable costs of $5 per unit. If it sells 200 units, what is its total cost?

Options:

  1. $2000
  2. $3000
  3. $4000
  4. $5000

Correct Answer: $3000

Solution: 

Total cost = Fixed costs + (Variable cost per unit * Number of units) = 1000 + (5 * 200) = 2000

A firm has fixed costs of $1000 and variable costs of $5 per unit. If it sells 2

Practice Questions

Q1
A firm has fixed costs of $1000 and variable costs of $5 per unit. If it sells 200 units, what is its total cost?
  1. $2000
  2. $3000
  3. $4000
  4. $5000

Questions & Step-by-Step Solutions

A firm has fixed costs of $1000 and variable costs of $5 per unit. If it sells 200 units, what is its total cost?
  • Total Cost Calculation – Understanding how to calculate total cost by adding fixed costs to the product of variable costs per unit and the number of units sold.
  • Fixed and Variable Costs – Differentiating between fixed costs, which do not change with the level of output, and variable costs, which do.
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