Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. Figure 9.1
-Refer to Figure 9.1. If this farmer is maximizing his profits, his TVC is
A) $24.
B) $42.
C) $108.
D) $255.

Question

Refer to the information provided in Figure 9.1 below to answer the question(s) that follow.  Figure 9.1
-Refer to Figure 9.1. If this farmer is maximizing his profits, his TVC is
A) $24. 
B) $42. 
C) $108. 
D) $255.

Quizplus · Accepted Answer

The Total Variable Cost (TVC) is the difference between Total Cost (TC) and Total Fixed Cost (TFC). Given that the farmer is maximizing profits, we look for the quantity where Marginal Cost (MC) equals Marginal Revenue (MR), which typically represents the profit-maximizing level of output. Without the specific figure (Figure 9.1) or detailed data, we can't directly calculate or identify the exact point of profit maximization. However, assuming the profit-maximizing condition is met and given the choices, the correct answer would be inferred based on typical economic principles or the context provided. Since there's no direct way to deduce the correct answer without the figure or additional data, the response is based on the assumption that the question implies a scenario where the profit-maximization condition can be identified, and TVC would be a specific value related to that condition.

Refer to the Information Provided in Figure 9