-Using the above table, the TVC, the TC, and MC when output is 3 units are
A) $45, $50, and $15, respectively.
B) $15, $20, and $15, respectively.
C) $45, $18, and $15, respectively.
D) $15, $45, and $15, respectively.

Question

-Using the above table, the TVC, the TC, and MC when output is 3 units are
A) $45, $50, and $15, respectively. 
B) $15, $20, and $15, respectively. 
C) $45, $18, and $15, respectively. 
D) $15, $45, and $15, respectively.

Quizplus · Accepted Answer

TVC (Total Variable Cost) at 3 units is the cost excluding any fixed costs. TC (Total Cost) includes both variable and fixed costs. MC (Marginal Cost) is the cost of producing one more unit. Without the table, we can't determine the exact values, but choice A is logically consistent with typical cost behavior: TVC and TC increase with output, and MC is the cost of an additional unit.

-Using the Above Table, the TVC, the TC, and MC