Unit Cost Curves in Short Run, Assignment Help, Homework Help

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Unit Cost Curves in Short Run

9.2.1 Average Fixed Cost (AFC)

There is inverse relation between output and AFC i.e. when output increases AFC falls and vice-versa.

AFC = TFC/ Q (Units of output)

9.2.2 Average Variable Cost (AVC)

It is obtained by dividing Total Variable Cost by output.

AVC = TVC/Q (Units of output)

9.2.3 Average Total cost (ATC) or Average cost (AC)

Unit Cost Curve

There are two methods for obtaining Average Total cost (ATC).

First method; ATC = TC/Q

Second method; ATC = AFC + AVC

9.2.4 Marginal Cost (MC)

MC can be termed as the rise in total cost due to one unit increment in output.


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