When the total fixed cost of producing 100 units is Rs 30and the average variable cost Rs 3, total cost is : (Choose the correct alternative)
(a) Rs 3
(b) Rs 30
(c) Rs 270
(d) Rs 330
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Solution
Rs 330
TC = TFC + TVC
TC = 30 + AVC×Q
TC = 30 + 3×100
TC = Rs 330
Concept: Basic Concepts of Cost
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