Question

1. What is meant by Average Cost​

Answer 1

Answer:

In economics, average cost or unit cost is equal to total cost (TC) divided by the number of units of a good produced (the output Q): Average cost has strong implication to how firms will choose to price their commodities.

Explanation:

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Answer 2

Answer:

in economics, average cost or unit cost is equal to total cost (TC) divided by the number of units of a good produced (the output Q): Average cost has strong implication to how firms will choose to price their commodities.