COSTS REVENUES Quantity Produced (pairs) Total Cost ($) Marginal Cost Quantity D
ID: 1195183 • Letter: C
Question
COSTS
REVENUES
Quantity Produced (pairs)
Total Cost ($)
Marginal Cost
Quantity Demanded
Price ($/unit)
Total Revenue
Marginal Revenue
0
100
--
0
170
--
1
140
1
160
2
184
2
150
3
230
3
140
4
280
4
130
5
335
5
120
6
395
6
110
7
475
7
100
8
565
8
90
Refer to Table 15-7. What is the total variable cost of production when Sally produces six pairs of shoes? a. $100
b. $295 c. $600 d. $620
COSTS
REVENUES
Quantity Produced (pairs)
Total Cost ($)
Marginal Cost
Quantity Demanded
Price ($/unit)
Total Revenue
Marginal Revenue
0
100
--
0
170
--
1
140
1
160
2
184
2
150
3
230
3
140
4
280
4
130
5
335
5
120
6
395
6
110
7
475
7
100
8
565
8
90
Explanation / Answer
b.$295 is the answer
here $100 is fixed cost. if produce 0 quantity we have to pay the fixed cost. this company produced 0 quantity we have to pay the fixed cost such as rent etc
for 6 pairs $395 is the total cost $395-$100(fixed cost)=$295 is the variable cost
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