The cost of producing the typical unit of output is the firm's
A)average total cost.
B)opportunity cost.
C)variable cost.
D)marginal cost.

Name: The cost of producing the typical unit of output is the firm's A)average total cost. B)opportunity cost. C)variable cost. D)marginal cost.
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Question

Quizplus · Accepted Answer

Average total cost is the total cost of producing a given quantity of output divided by the quantity of output. It includes both fixed and variable costs.

The Cost of Producing the Typical Unit of Output Is