Total variable cost -> The rectangle OVBq₀ represents the total variable cost. In this figure, the height of the rectangle (OV) represents the average variable cost (AVC) per unit at quantity q₀, and the width (Oq₀) represents the quantity produced. When we multiply average variable cost by quantity (AVC × Q), we get the total variable cost. Therefore, the area of rectangle OVBq₀ = AVC × q₀ = Total Variable Cost. This is a standard representation in microeconomics where areas under or bounded by cost curves represent total costs. -> correct
What does the rectangle OVBq₀ depicts in the given figure?
CUET UG 2025 — Economics Micro
2025mcqmedium
What does the rectangle OVBq₀ depicts in the given figure?
Official previous-year question
Held on 28 May 2025 · Verified 13 Jul 2026.
Options
- A
Average variable cost
- B
Average cost
- C
Total variable cost
- D
Total cost
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