Question

If a firm produces 600 units of a commodity in a day and incurs a total cost of Rs30000. Calculate average cost.

Answer 1

Answer:

total cost/units produced

=30000/600

=50

Answer 2

Answer:

The Average cost of each unit is Rs. 50.

Explanation:

• The firm produces 600 units of a commodity in a day.

• Total cost of 600 units is Rs. 30000

We have to find out the Average cost of each unit.

• Now ,In Mathematics, the average is defined as the mean value that is equal to the ratio of the sum of the number of a given set of values to the total number of values which are present in the given set.

• To find the average of given numbers, we just have to add all the numbers and then divide the result by the number of values given. The average formula  is given as follows:

         Average / mean = Sum of given Values / Number of values

• Hence, the average cost of a unit = $\frac{Total cost}{Number of units}$ = $\frac{30000}{600}$ = 50 rupees.
• So,  the Average cost of each unit is Rs. 50.

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