# Based on the table above, what is the total variable cost (TVC) when 'Q' is three? A) 600 B) 1000...

## Question:

Total Costs (in Dollars) | Total Costs (in Dollars) | Total Costs (in Dollars) | Average Costs (in Dollars) | Average Costs (in Dollars) | Average Costs (in Dollars) | ||

Quantity | Total Cost | Total Fixed Cost | Total Variable Cost | Average Total Cost | Average Fixed Cost | Average Variable Cost | Marginal Cost (in Dollars) |

Q | TC | TFC | TVC | ATC | AFC | AVC | MC |

0 | $1,200 | Undefined | Undefined | Undefined | N/a | ||

1 | $2,000 | ||||||

2 | $2,600 | ||||||

3 | $3,000 | ||||||

4 | $3,300 |

Based on the table above, what is the total variable cost (TVC) when 'Q' is three?

A) 600

B) 1000

C) 1200

D) 1800

E) 3000

## Total Variable Cost Level:

The total variable cost level is a concept which measures the aggregate expenditure been incurred by the producer on the variable factor resources employed in the production process. Total variable cost level is computed as :

TVC = TC - TFC

Where,

TVC = total variable cost level

TC = total cost level

TFC = Total fixed cost level

## Answer and Explanation: 1

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View this answerThe total variable cost level is computed as :

TVC = TC - TFC

Now in the above-mentioned case study, the total fixed cost level can be completed as...

See full answer below.

#### Learn more about this topic:

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Chapter 23 / Lesson 7Understand variable cost in business. Learn the definition of variable cost, the variable cost formula, and how to use the formula to calculate the variable cost.