High School

At Bert's Bootery, the total cost of producing twenty pairs of boots is $400. The marginal cost of producing the twenty-first pair of boots is $83.

We can conclude that the:

A. average variable cost of 21 pairs of boots is $23.
B. marginal cost of the 20th pair of boots is $20.
C. average total cost of 21 pairs of boots is $23.
D. average total cost of 21 pairs of boots is $15.09.

Answer :

The average total cost of producing 21 pairs of boots is $23.

We can use the information given to calculate the average total cost of producing 21 pairs of boots.

Total cost of producing 20 pairs of boots = $400

Marginal cost of producing the 21st pair of boots = $83

Total cost of producing 21 pairs of boots = $400 + $83 = $483

Average total cost of producing 21 pairs of boots = Total cost / Quantity = $483 / 21 = $23

Therefore, the correct answer is c. The average total cost of producing 21 pairs of boots is $23.

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