Exhibit 21-3

-Refer to Exhibit 21-3. What is the average total cost of producing 60 units of output?
A)$21.67
B)$1.33
C)$24.17
D)$12.50

Question

Exhibit 21-3
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-Refer to Exhibit 21-3. What is the average total cost of producing 60 units of output?
A)$21.67 
B)$1.33 
C)$24.17 
D)$12.50

Quizplus · Accepted Answer

The average total cost (ATC) is calculated by dividing the total cost by the quantity of output produced. Without the specific details from Exhibit 21-3, we typically find ATC by using the formula ATC = TC/Q, where TC is the total cost and Q is the quantity of output. Given the correct answer is $21.67, it suggests that the total cost of producing 60 units is $1,300.20 (21.67 * 60), indicating that this figure was derived from specific data in Exhibit 21-3.

Exhibit 21-3 ​

Exhibit 21-3