Chapter 13: Bl. en.suny.edu/webapps/assessment/take/launchjsp?course assessment

Question

Chapter 13: Bl. en.suny.edu/webapps/assessment/take/launchjsp?course assessment id 46090 18course id-_24836 18kcontent id estion Completion Status: UESTION 3 Scenario 2: Use the following information to answer the next five questions. Cozumels, a Mexican restaurant, makes wonderful Burritos-As-Big-As-Your-Head. However, their financial department is not very organized. They have misplaced many of the company's records. Use the information you have below to answer the following question. Q: Quantity of Burritos Total Fixed Cost Total Variable Cost Total Cost Marginal Cost 10 10 27 4 What are the total variable costs of producing 2 Burritos-As-Big-As-Your-Head? O a 10 b, 22 d. 1

Explanation / Answer

The correct answer is C. The total fixed cost will remain the same regardless of output. Given that the marginal cost is 4, the total cost must be 14 for 2 units. Total fixed cost is 10. So the total variable cost is 14-10=4. The correct answer is C

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