Use the following to answer questions:
Figure: The Average Total Cost Curve
-(Figure: The Average Total Cost Curve) Look at the figure The Average Total Cost Curve. The total cost of producing five pairs of boots is approximately:
A) $408.
B) $82.
C) $108.
D) $17.

Question

Use the following to answer questions:
Figure: The Average Total Cost Curve 
-(Figure: The Average Total Cost Curve) Look at the figure The Average Total Cost Curve. The total cost of producing five pairs of boots is approximately:
A) $408. 
B) $82. 
C) $108. 
D) $17.

Quizplus · Accepted Answer

The total cost is calculated by multiplying the average total cost by the quantity produced. If the average total cost for five pairs of boots is $81.60, then the total cost is approximately $408 (5 pairs x $81.60).

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