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Homework answers / question archive / Average total cost is equal to which one and why? output/total cost total cost-total quantity of output average variable cost+total fixed cost total cost/output
Average total cost is equal to which one and why?
output/total cost
total cost-total quantity of output
average variable cost+total fixed cost
total cost/output
Average total cost is, by definition, equal to total cost divided by output.
Average total cost is also equal to average variable cost plus average fixed cost. This is because total cost = fixed cost + variable cost, therefore, we have:
