The average fixed cost, the
Concept Introduction:
Average variable cost: The average variable cost is a firm’s variable cost divided by the number of goods produced.
Average variable cost
Average fixed cost (AFC) : The average fixed cost is the total sum of all fixed costs divided by the total quantities produced by the firm.
Marginal cost: Marginal cost is the additional cost during the production of one more unit of goods.
Marginal cost
Marginal cost also can be found out by another formula
Average total cost: The average total (ATC) is the summation of both AFC and AVC.
Or
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Economics Today: The Micro View (19th Edition) (Pearson Series in Economics)
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