Assume That in the Short Run a Firm Is Producing

question 154

Multiple Choice

Assume that in the short run a firm is producing 100 units of output,has average total costs of $200,and has average variable costs of $150.The firm's total fixed costs are:

• A) $5,000.
• B) $500.
• C) $.50.
• D) $50.
• The firm's total costs are $200 * 100 = $20,000.Its total variable costs are $150 * 100 = $15,000.Thus,its fixed costs are $20,000 - 15,000 = $5,000.

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