Average cost is defined as
A) total cost divided by marginal cost.
B) total cost divided by total output.
C) total output times cost per unit.
D) total output times marginal cost.

Name: Average cost is defined as A) total cost divided by marginal cost. B) total cost divided by total output. C) total output times cost per unit. D) total output times marginal cost.
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Question

Quizplus · Accepted Answer

Average cost is calculated by dividing the total cost by the total output, which gives the cost per unit of output.

Average Cost Is Defined as