# 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