Answer to Question #99393 in Microeconomics for amy

Question

Suppose the market of carpets is competitive. A typical firm producing carpets has the following total cost function.

Answer 1

$C(x)=FC+V(x)$

where C is the total production cost of carpets

FC is the total fixed cost of carpets.

V is the variable cost of carpets.

x is the number of carpets poduced