Calculate the total cost and the total revenue

Reference no: EM13826309

Question-

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?

Additional Information-

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.

Reference no: EM13826309

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