Which of the following measures of cost is best described as "the cost of a typical unit of output if total cost is divided evenly over all the units produced?"
A)average fixed cost
B)average variable cost
C)average total cost
D)marginal cost

Question

Quizplus · Accepted Answer

Average total cost is calculated by dividing total cost by the quantity produced, resulting in the cost of a typical unit of output.

Which of the Following Measures of Cost Is Best Described