Use the following to answer question:
-(Figure: The Average Total Cost Curve)Use 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 question: 
-(Figure: The Average Total Cost Curve)Use 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 of producing five pairs of boots can be determined by looking at the average total cost (ATC) for five units and then multiplying by the quantity. The ATC at five units, as shown on the graph, is approximately $82. To find the total cost, multiply the ATC by the quantity (5 pairs of boots), which equals $410. However, since $408 is the closest option provided, it is the correct answer, indicating a slight discrepancy or rounding in the question or graph interpretation.

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