Asked by
Kodie Wagner
on Nov 04, 2024
Verified
One formula for ________ is TVC/q.
A) TFC
B) AVC
C) MC
D) TC
Total Variable Cost
The sum of all variable expenses that are incurred in the direct production of goods or services.
AVC
Average Variable Cost, which is the variable cost per unit of output.
- Master the ideas surrounding Marginal Cost (MC), Average Variable Cost (AVC), Average Fixed Cost (AFC), Total Variable Cost (TVC), Total Fixed Cost (TFC), Total Cost (TC), and Average Total Cost (ATC).
- Ascertain the total expenditure, variable expenditure, fixed expenditure, marginal expenditure, average expenditure on variable costs, total average expenditure, and average expenditure on fixed costs based on the data provided.
Verified Answer
GA
Learning Objectives
- Master the ideas surrounding Marginal Cost (MC), Average Variable Cost (AVC), Average Fixed Cost (AFC), Total Variable Cost (TVC), Total Fixed Cost (TFC), Total Cost (TC), and Average Total Cost (ATC).
- Ascertain the total expenditure, variable expenditure, fixed expenditure, marginal expenditure, average expenditure on variable costs, total average expenditure, and average expenditure on fixed costs based on the data provided.