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If you know that with 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25, then the total cost at this output level is: Group of answer choices $97.78 $93.75 $880 $750

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If you know that with 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25, then the total cost at this output level is:

Group of answer choices

$97.78

$93.75

$880

$750

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