Question

The total cost of producing 10units is ₹120and that of 30units ₹160assuming the cost function is linear find
1.the marginal cost
2.the cost function
3.the fixed cost
4.the total cost of producing 50 units
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Answer 1

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Answer 2

Answer:

Answer: B (70)

If Total Variable Cost and Total Fixed Cost of producing 10 units are ₹ 500 & ₹ 200 then the value of average cost will be Rs 70.

Now I am showing how to calculate average cost by using this formula

: - Total Cost of Production (Total Variable cost + Total fixed cost) divided / Total number of units produced

So the equation will be (500+200) / 10

So the answer will be 700/10 = 70 Rs.

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Step-by-step explanation: