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# Production Costs, Variable and Fixed

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A firm has a fixed cost of \$60 and variable costs as shown in the table below. Complete the table below. I just need some direction and input as to how I can find the answers that fall under the particular headings. Thanks a lot

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#### Solution Preview

Hello!
I've completed the table using Excel formulae in the Excel file I'm attaching. These are the formulae that you need to use for these kind of exercises:

TFC (Total Fixed Costs) = \$60 always. Fixed costs are fixed precisely because they don't change with the number of units produced.

TVC (Total Variable Costs) = (given in the table)

TC (Total Costs) = This is ...

#### Solution Summary

Production Costs are noted.

\$2.19