Homework Answers
Ans) Fixed cost is always fixed. It does not depend upon the level of production.
So, fixed cost will be $500.
However, variable cost depends upon the level of production. And can be calculated as (when output = 3 units)÷
Total cost = fixed cost + variable cost
$875 = $500 + variable cost
Variable cost = $875 - $500 = $375
Option b.
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