Economy, asked by harmansinghnaina, 7 months ago

What is meant by Average Cost?​

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Answered by Anonymous
7

Answer:Definition: The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the total output (Q). By per unit cost of production, we mean that all the fixed and variable cost is taken into the consideration for calculating the average cost. Thus, it is also called as Per Unit Total Cost.

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