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Homework answers / question archive / The cost of producing the typical unit of output is the firms: a
The cost of producing the typical unit of output is the firms:
a. Average total cost,
b. Opportunity cost,
c. Variable cost,
d. Marginal cost.
Ans: a. Average total cost
Average total cost defined as the cost of producing an unit of a good.
ATC = Total Cost / Total Output
