Ask Question
31 January, 05:04

A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units

+5
Answers (1)
  1. 31 January, 06:10
    0
    total cost of producing 100 units is $4700

    Explanation:

    given,

    Fixed cost = $200

    Total cost = $4,000

    The total cost of n units = total cost of (n-1) units + marginal cost of nth unit

    The total cost of 100 units = total cost of 99 units+marginal cost of 100th unit

    The total cost of 100 units = $4000 + $700

    =4000+700

    =$4700

    the total cost of producing 100 units is $4700
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers