(Table: Total Cost Data) Look at the table Total Cost Data.The table shows cost data for a bicycle firm operating in the short run.What is the total variable cost for this firm when the firm produces five bicycles?
A)$50
B)$240
C)$60
D)$190

Question

Quizplus · Accepted Answer

Total variable cost (TVC) is calculated by subtracting total fixed cost (TFC) from total cost (TC). If the total cost for producing five bicycles is $240 and the fixed cost is $50, then TVC = $240 - $50 = $190.

(Table: Total Cost Data) Look at the Table Total Cost