Answer: $3675
Explanation:
A competitive firm may be referred to as a firm which have no influence on the sales prices of their product usually due to the vast amount of sellers or firms producing and selling homogeneous product.
$40 per unit
When firm produces 150 units ;
Average total cost = $24.50
When firm produces 151 units ;
Average total cost = $24.55
Total cost when 150 units of product is produced :
The average total cost represents the cost incurred in the production of one unit of a company's product. Usually obtained by dividing the total cost bybthe number of units produced. Also called the cost per unit.
Total cost price = unit produced × average total cost
Total cost price = 150 × $24.50
Total cost price = $3675.00
