It's simple to calculate this by adding fixed costs and variable costs together. Our total cost would then be $2210 (fixed costs) plus $700 (variable costs). What is the formula for calculating total ...

If Q is given in the expression, you just need to substitute that value for the marginal cost. There is a formula for total cost. When Q = 0, we find a fixed cost. To calculate total costs, you divide ...

A prime cost is the total direct cost of production ... the labor involved in making each unit, and exclude fixed costs. The formula for calculating prime cost is: Prime Cost = Raw Materials ...

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