If average fixed cost is Rs 40 and average variable cost is Rs. 80 for an output level
is 10, then the total cost is___
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Given: Average Fixed Cost= ₹ 40
Average Variable Cost= ₹80
Output level= 10
To Find: Total Cost
Solution:
Total Fixed Cost= Average Fixed Cost × Quantity
= ₹ (40 × 10)
= ₹ 400
Total Variable Cost= Average Variable Cost × Quantity
= ₹ (80 × 10)
= ₹ 800
∴ Total Cost= Total Fixed Cost + Total Variable Cost
= ₹ (400 + 800)
= ₹ 1200
Answer) The total cost is ₹ 1200.
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