For 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25. The total cost at this output level is ____________.

Question

For 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25. The total cost at this output level is ____________.
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Solution 1

To find the total cost at this output level, we need to add the average fixed cost and the average variable cost together and then multiply by the number of units.

Step 1: Add average fixed cost and average variable cost $12.50 (average fixed cost) + $81.25 (average variable cost) = $93.75

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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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