use the table to answer the following question quantity total cost 0 20 1 25 2 28 3 30 4 38 5 55 6 92 7 135 at output level 5, the total variable cost is?

Answer Details

At output level 5, the total variable cost is $35.00. Variable cost is the cost that varies with the level of output produced, and it includes costs such as raw materials, direct labor, and fuel. From the table, we can see that the total cost for producing 5 units is $55.00, and the total cost for producing 4 units is $38.00. Therefore, the variable cost for producing the 5th unit is $55.00 - $38.00 = $17.00. Hence, the total variable cost for producing 5 units is the sum of the variable cost for producing each of the 5 units, which is $17.00 x 5 = $35.00.