Answer the question on the basis of the following cost data: $$\begin{array} { c c c }
&&\text { Total } \
\text { Output }&&\text { Cost }\
\hline
0 & & \$ 24 \
1 & & 33 \
2 & & 41 \
3 & & 48 \
4 & & 54 \
5 & & 61 \
6 & & 69
\end{array}$$ Refer to the data.The total variable cost of producing 5 units is:

Question

Answer the question on the basis of the following cost data: $$\begin{array} { c c c } 
&&\text { Total } \
\text { Output }&&\text { Cost }\
\hline
0 & & \$ 24 \
1 & & 33 \
2 & & 41 \
3 & & 48 \
4 & & 54 \
5 & & 61 \
6 & & 69
\end{array}$$ Refer to the data.The total variable cost of producing 5 units is:

Quizplus · Accepted Answer

Total Variable Cost (TVC) is calculated by subtracting Total Fixed Cost (TFC) from Total Cost (TC). From the data, the Total Cost (TC) of producing 5 units is $61, and the Total Fixed Cost (TFC), which is the cost at 0 output, is $24. Therefore, TVC = TC - TFC = $61 - $24 = $37.

Answer the Question on the Basis of the Following Cost