Question

What is the meaning of average cost? Give example.​

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 costs may be dependent on the time period considered (increasing production may be expensive or impossible number in the short term, for example).

Explanation:

Answer 2

Answer:

Average cost is equal to total cost divided by the number of units of a good produce it is equal to the sum of average variable costs and average fixed costs.