At 4 Units of Output in Table 21

question 58

Multiple Choice

$\begin{array}{l}\begin{array} { | c | c | } \hline \begin{array} { c } \text { Output } \\\text { (Units per Day) }\end{array} & \begin{array} { c } \text { Total Cost } \\\text { (Dollars per Day) }\end{array} \\\hline 0 & 16 \\\hline 1 & 30 \\\hline 2 & 42 \\\hline 3 & 58 \\\hline 4 & 78 \\\hline\end{array}\\\text { Table 21.4 }\end{array}$ At 4 units of output in Table 21.4, the total variable cost is

• A)$5.00.
• B)$20.00.
• C)$19.50.
• D)$62.00.

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Definitions:

Market

A system or arena where buyers and sellers interact to trade goods, services, or resources, often determined by supply and demand dynamics.

S And D

Stands for Supply and Demand, fundamental concepts in economics representing the relationship between the quantity of a commodity available and the market's desire for it, determining its price.

CD-Rom Drives

Devices used to read data stored on CD-ROMs, once prominent for software distribution and media storage, but now largely obsolete due to technological advancements.

Tariffs

Taxes imposed by a government on imported or exported goods.