1
answer
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watching
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views
28 Nov 2020
Output
Total Cost
0
$24
1
$33
2
$41
3
$48
4
$54
5
$61
6
$69
Refer to the data above. The total variable cost of producing 5 units is:
A. $61
B. $48
C. $37
D. $24
| Output | Total Cost |
| 0 | $24 |
| 1 | $33 |
| 2 | $41 |
| 3 | $48 |
| 4 | $54 |
| 5 | $61 |
| 6 | $69 |
Refer to the data above. The total variable cost of producing 5 units is:
A. $61
B. $48
C. $37
D. $24
Divya SinghLv10
22 Dec 2020
Related textbook solutions
Related questions
Refer to the data.
|
Total Output |
Average Fixed Cost |
Average Variable Cost |
Average Total Cost |
Marginal Cost |
|
1 |
150 |
25 |
175 |
25 |
|
2 |
75 |
23 |
98 |
21 |
|
3 |
50 |
20 |
70 |
14 |
|
4 |
37.50 |
21 |
58.50 |
24 |
|
5 |
30 |
23 |
53 |
31 |
|
6 |
25 |
25 |
50 |
35 |
|
7 |
21.43 |
28 |
49.43 |
46.01 |
|
8 |
18.75 |
33 |
51.76 |
68.07 |
|
9 |
16.67 |
39 |
55.67 |
86.95 |
|
10 |
15.00 |
48 |
63.00 |
128.97 |
The marginal cost column reflects:
A. the law of diminishing returns.
B. the law of diminishing marginal utility.
C. diseconomies of scale.
D. economies of scale.
