Figure: The Average Total Cost Curve
(Figure: The Average Total Cost Curve) Look at the figure The Average Total Cost Curve.In the figure, the total cost of producing five pairs of boots is approximately:
A)$408.
B)$82.
C)$108.
D)$17.

Question

Quizplus · Accepted Answer

The average total cost (ATC) is the total cost divided by the quantity produced. If the ATC for five pairs of boots is $82, then the total cost is 5 pairs * $82/pair = $410. However, since the closest option is $408, it is likely an approximation.

Figure: the Average Total Cost Curve