If the farm produces 12,000 bushels of peanuts and the total fixed costs of the operation is $36,000 and the total variable costs are $12,000. At what price will the firm need to have to breakeven? Calculate the average total cost and average variable cost for the firm ATC = $4,000 $12,000+$36,000= $48,000/$12,000 AVC= $1,000 $12,0000/S12,000

If the farm produces 12,000 bushels of peanuts and the total fixed costs of the operation is $36,000 and the total variable costs are $12,000. At what price will the firm need to have to breakeven? Calculate the average total cost and average variable cost for the firm ATC = $4,000 $12,000+$36,000= $48,000/$12,000 AVC= $1,000 $12,0000/S12,000

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 7PA

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