Assume that in the short run a firm is producing 200 units of output, has average total costs of $250, and has average variable costs of $150. The firm's total costs are.

A) $50,000.
B) $30,000.
C) $100.
D) $20,000.

Average Total Costs

A rephrasing: The sum of all production costs divided by the quantity of goods produced, indicating the average cost for each unit.

Average Variable Costs

This represents the total variable costs (costs that vary with the production level) divided by the quantity of output produced.

Total Costs

The sum of all costs incurred by a business in producing a particular quantity of a good or service, including both fixed and variable costs.