help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / What is the relationship between the total cost concept and average cost concepts? For instance, if you know the total cost and quantity, how do you calculate the average total cost?

What is the relationship between the total cost concept and average cost concepts? For instance, if you know the total cost and quantity, how do you calculate the average total cost?

Accounting

What is the relationship between the total cost concept and average cost concepts? For instance, if you know the total cost and quantity, how do you calculate the average total cost?

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

The total cost for a firm is given by:

  • = Total fixed cost + total variable cost

The average total cost is given by:

  • =Total costQuantity of Production=Total costQuantity of Production

For example, if the total cost is $1000 and the quantity of production is 100 units, the average total cost is given by:

  • =$1,000100=$1,000100
  • = $10 per unit

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)