Complete Table 21.5: The total variable cost of the first unit of output in Table 21.5 is
A) $15.00.
B) $12.00.
C) $8.00.
D) $6.00.

Question

Complete Table 21.5:  The total variable cost of the first unit of output in Table 21.5 is
A) $15.00. 
B) $12.00. 
C) $8.00. 
D) $6.00.

Quizplus · Accepted Answer

Looking at the table, the total variable cost for the first unit of output is $8.00. This can be seen in the first row where the total costs are listed for each level of production. The other answer choices are not supported by the information provided in the table.