Answered

Suppose a firm produces 25 units. Fixed cost is currently $20 per unit and its total variable cost is $625. If the firm decides to increase its production level to 35 units, what would be the total cost?

Answer :

Answer:

The total cost is $1,325.

Explanation:

A firm produces 25 units of a product.

The average fixed cost or fixed cost per unit is $20 per unit.

The total variable cost is $625.

If the firm decides to produce 35 units, the total cost will be equal tot he sum of total variable cost and total fixed cost.

Total Fixed Cost

= [tex]Fixed\ cost\ per\ unit\times Number\ of\ units[/tex]

= [tex]\$ 20 \times 35[/tex]

= $700

Total variable cost is given as $625.

The total cost is

= $625 + $700

= $1,325

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