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A business incurs the following costs: •Labor: $100/unit• Materials: $40/unit• Rent: $200,000/month Assume the firm produces 3 million units per month

Economics

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A business incurs the following costs:

•Labor: $100/unit•

Materials: $40/unit•

Rent: $200,000/month

Assume the firm produces 3 million units per month.

The total variable cost, per month, is million.

The total fixed cost, per month, is million.

The total cost is million.