Calculate the firm total costs

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Reference no: EM1372375

The company currently uses seventy workers to produce 300 units of output per day. The daily wage is $100, and the price of the company's output is $30. The cost of other variable inputs is $500 per day. Although you don't know the firm's fixed cost, you know that it is high enough that the firm's total costs exceed its total revenue.

Reference no: EM1372375

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