(TC is total cost; VC is variable cost; Q is quantity.) ATC а. b. The amount by which total cost increases when an AQ additional unit is produced: Marginal cost Average (total) cost Average variable cost TC с. d. The total cost divided by the quantity of output: e. The change in total cost divided by the change VC f. in output: g. The sum of all costs that change as output changes divided by the number of units produced:
(TC is total cost; VC is variable cost; Q is quantity.) ATC а. b. The amount by which total cost increases when an AQ additional unit is produced: Marginal cost Average (total) cost Average variable cost TC с. d. The total cost divided by the quantity of output: e. The change in total cost divided by the change VC f. in output: g. The sum of all costs that change as output changes divided by the number of units produced:
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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