Use the following to answer questions:
-(Table: Total Cost Data) Look at the table Total Cost Data. What is the total variable cost for this bicycle firm when the firm produces 5 bicycles?
A) $50
B) $240
C) $60
D) $190

Question

Use the following to answer questions: 
-(Table: Total Cost Data) Look at the table Total Cost Data. What is the total variable cost for this bicycle firm when the firm produces 5 bicycles?
A) $50 
B) $240 
C) $60 
D) $190

Quizplus · Accepted Answer

The total variable cost is calculated by subtracting the fixed cost from the total cost at the given level of output. If the total cost for producing 5 bicycles is $240 and the fixed cost is $50, then the total variable cost is $240 - $50 = $190.

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