Question

At its current short-run level of production, a firm's average variable costs equal $30.00 per unit, & its average fixed costs equal $25.00 per unit. Its total costs at this production level equal $3,500. 1. What is the​ firm's output​ level?

2. What are its total variable costs at this output​ level?
3. What are its total fixed costs?

Answer 1

1.- output at the current level 63.64 units

2 total variable cost $ 1,909

3 total fixed cost $ 1,591

Step-by-step explanation:

30 variable + 25 fixed = 55 unit average cost

3,500 total cost / 60 average cost = 63.636363 units

total variable cost: 63.63 x 30 = 1,909

Total fixed 25 x 63.64 = 1.591‬

Answer 2

Answer: firm output level =$63.6

Total variable cost= $1650

Total fixed cost= $1250

Step-by-step explanation:

ATC= TC/Q , Q= $3500/55= $63.6

TVC= $30x 55=$1650

TFC= $25x 55 =$1250