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A business has previously ascertained that its total costs (TC) can be estimated for any level of production (P) and sales (S) according to the following equation: TC = ($5 x P + $1,000) + ($2 x S +$500). If the production level was 500 units and sales were 400 units, what would be the company's fixed costs? A $1,500 B $4,800 C $3,500 D $3,300 |