The above figure shows some a firm's cost curves and its marginal revenue curve.
-The firm in the figure above has a total cost equal to ________.
A) $5.14 × 7
B) $3.00 × 7
C) ($5.14 - $3.00) × 7
D) ($3.00 - $5.14) × 7
E) None of the above answers is correct because more information is needed.

Question

The above figure shows some a firm's cost curves and its marginal revenue curve.
-The firm in the figure above has a total cost equal to ________.
A) $5.14 × 7 
B) $3.00 × 7 
C) ($5.14 - $3.00) × 7 
D) ($3.00 - $5.14) × 7 
E) None of the above answers is correct because more information is needed.

Quizplus · Accepted Answer

Total cost is calculated by multiplying the cost per unit by the number of units produced. Since the figure is not visible, the correct answer is inferred based on the typical structure of such questions, where the cost per unit ($5.14) is multiplied by the quantity produced (7).

The Above Figure Shows Some a Firm's Cost Curves and Its