Question

Average Total Cost is
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Answer 1

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):

{\displaystyle AC={\frac {TC}{Q}}.}{\displaystyle AC={\frac {TC}{Q}}.}

Average cost has strong implication to how firms will choose to price their commodities. Firms’ sale of commodities of certain kind is strictly related to the size of the size of the certain market and how the rivals would choose to act.

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Answer 2

Answer:

Average cost (AC), also known as average total cost (ATC), is the average cost per unit of output. To find it, divide the total cost (TC) by the quantity the firm is producing (Q).

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