To find the total cost, we need to multiply the average total cost by the quantity of the output.
Total Cost = Average Total Cost * Quantity of Output
Given that the quantity of output is 50 and the average total cost is $20:
Total Cost = $20 * 50 = $1000.
Therefore, the total cost is $1000.
Product of output is 50 the market price is $23and the average total cost is $20. What is rhe total cost?
1 answer