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2 March, 18:03

Average cost is:

a. (variable cost) / (quantity).

b. (fixed cost) / (quantity).

c. (total cost) / (change in quantity).

d. (change in total costs) / (change in quantity).

e. (total cost) / (quantity).

f. (change in total costs) / (quantity).

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  1. 2 March, 20:35
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    e. (total cost) / (quantity).

    Explanation:

    The average cost is the cost that includes the variable plus fixed cost and the number of units produced which we called as a quantity

    In mathematically,

    Average cost = Total cost : Quantity

    where,

    Total cost = Fixed cost + variable cost

    It is a sum of fixed cost and the variable cost

    Quantity = Number of units produced
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