Economy, asked by vickyk6401, 4 months ago

what meant by average cost

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Answered by ishan12345678

2

AnswerDefinition: 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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