Complete Table 21.5:
$$\begin{array}{l}
\begin{array} { l ll l l l }
Q&TFC&TVC&TC&AVC&MC\0&\_\_\_\_\_&\_\_\_\_\_&15&--&--\1&\_\_\_\_\_&\_\_\_\_\_&23&\_\_\_\_\_&\_\_\_\_\_\2&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_&4\3&\_\_\_\_\_&15&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_
\end{array}
\end{array}$$
$$\text { Table } 21.5$$ The total cost of 3 units of output in Table 21.5 is
A) $30.
B) $15.
C) $23.
D) $38.

Question

Complete Table 21.5:
$$\begin{array}{l}
\begin{array} { l ll l l l } 
Q&TFC&TVC&TC&AVC&MC\0&\_\_\_\_\_&\_\_\_\_\_&15&--&--\1&\_\_\_\_\_&\_\_\_\_\_&23&\_\_\_\_\_&\_\_\_\_\_\2&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_&4\3&\_\_\_\_\_&15&\_\_\_\_\_&\_\_\_\_\_&\_\_\_\_\_
\end{array}
\end{array}$$
$$\text { Table } 21.5$$ The total cost of 3 units of output in Table 21.5 is
A) $30.
B) $15.
C) $23.
D) $38.

Quizplus · Accepted Answer

The total cost (TC) is the sum of total fixed cost (TFC) and total variable cost (TVC). Given that TC for 0 units is $15, this is the TFC. For 3 units, TVC is $15, so TC = TFC + TVC = $15 + $15 = $30.

Complete Table 21 Table 21.5\text { Table } 21.5 Table 21.5 The Total Cost of 3 Units of Output in Table

Complete Table 21 $\text { Table } 21.5$ The Total Cost of 3 Units of Output in Table