Answer to Question #52070 in Microeconomics for Lawrence

Question

how do you get total cost if you are given quantity, price, total revenue and average total cost?

Answer 1

Average total cost ATC = TC/Q, where TC is total cost and Q is quantity.
If you are given quantity, price, total revenue and average total cost, you will find total cost by multiplying average total cost and quantity: TC = ATC*Q.