Which one of the following statements is false?
A)Average total cost is total cost per unit of output.
B)Average fixed cost plus average variable cost equals average total cost.
C)Marginal cost is the increase in total cost resulting from a one-unit increase in output.
D)Total cost equals fixed cost plus average cost.
E)Marginal cost depends on the amount of labour hired.

Question

Quizplus · Accepted Answer

Total cost equals fixed cost plus variable cost, not average cost.

Which One of the Following Statements Is False