Question: 15) The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day.

15) The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's  

15) The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day. Labor costs are the only variable costs of production. What is the total cost of producing 50 bikes? A) $100 B) $300 C) $400 D) $500 E) $200 16) The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day. Labor costs are the only variable costs of production. What is the total fixed cost of producing 64 bikes? A) $400 B) $300 C) $600 D) $200 E) $500 17) The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day. Labor costs are the only variable costs of production. What is the total variable cost of producing 60 bikes? A) $200 B) $500 C) $300 D) $400 E) None of the above answers are correct. Labor Total fixed Total variable Total cost Output (bikes) (workers) costs (dollars) cost (dollars) (dollars) 200 20 100 2 50 3 60 4 64

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