If the average total cost is $ 50 and the average fixed cost is $15 when output is 20 units then the firm's total variable cost at the level of output is

Total variable cost = $700

Explanation:

We know,

Total cost = Total fixed cost + Total variable cost

Given,

Average total Cost = $50,

Output = 20 units

Total Cost = Average total cost x output

Total Cost = $50 x 20 units

Total Cost = $1,000

Average fixed cost = $15

Total fixed cost = $15 x 20 units

Total fixed cost = $300

Putting the value in the formula, we can get,

Total cost = Total fixed cost + Total variable cost

or, $1,000 = $300 + Total variable cost

or, Total variable cost = $1,000 - $300

Hence, Total variable cost = $700

Total Variable Cost at the level of output is $700.

Explanation:

TC = TFC + TVC

$50(20) = $15(20) + TVC

TVC = $1000 - $300

TVC = $700

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number