For each of the following indicate what costs are being calculated: a. FC + VC =

Question

For each of the following indicate what costs are being calculated:

a. FC + VC = (Click to select)Average fixed costAverage variable costAverage total costMarginal costVariable costTotal costFixed cost.

b. TC/Q = (Click to select)Average variable costAverage total costMarginal costTotal costVariable costFixed costAverage fixed cost.

c. FC/Q = (Click to select)Variable costAverage total costMarginal costFixed costAverage variable costAverage fixed costTotal cost.

d. VC/Q = (Click to select)Marginal cost,Variable cost,Average total cost,Total cost,Average variable cost,Average fixed cost,Fixed cost.

e. AFC + AVC = (Click to select)Variable cost,Average fixed cost,Average total cost,Average variable cost,Marginal cost,Fixed cost,Total cost.


For each of the following indicate what costs are being calculated:

a. FC + VC = (Click to select)Average fixed costAverage variable costAverage total costMarginal costVariable costTotal costFixed cost.

b. TC/Q = (Click to select)Average variable costAverage total costMarginal costTotal costVariable costFixed costAverage fixed cost.

c. FC/Q = (Click to select)Variable costAverage total costMarginal costFixed costAverage variable costAverage fixed costTotal cost.

d. VC/Q = (Click to select)Marginal cost,Variable cost,Average total cost,Total cost,Average variable cost,Average fixed cost,Fixed cost.

e. AFC + AVC = (Click to select)Variable cost,Average fixed cost,Average total cost,Average variable cost,Marginal cost,Fixed cost,Total cost.

Explanation / Answer

a. FC + VC = Total cost

b. TC/Q = Average total cost

c. FC/Q = Average Fixed cost

d. VC/Q = Average Variable cost

e. AFC + AVC = Average total cost

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