Question

what is average variable cost and average fixed cost?

plzz answer in simple language
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Answer 1

Explanation:

What is the meaning of average variable cost?

In economics, average variable cost (AVC) is a firm's variable costs (labour, electricity, etc.) divided by the quantity of output produced. Variable costs are those costs which vary with the output level: where = variable cost, = average variable cost, and. = quantity of output produced.～(^з^)-♡

Answer 2

Explanation:

Average variable costs are found by dividing total fixed variable costs by output. Average total cost (ATC) can be found by adding average fixed costs (AFC) and average variable costs (AVC).