Cost divided by output is ________ cost.
A) marginal
B) average
C) total
D) deflated
E) sunk

Question

Quizplus · Accepted Answer

Cost divided by output is known as average cost. Marginal cost refers to the additional cost incurred with the production of one additional unit, total cost refers to the sum of all costs incurred in producing a given level of output, deflated cost adjusts for inflation, and sunk cost refers to costs that have already been incurred and cannot be recovered.

Cost Divided by Output Is ________ Cost