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MICROECONOMICS CH : 8 CONCEPTS OF COST — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 8 CONCEPTS OF COST3 Marks
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Answer

Output (Units)Total Cost (₹)Total Variable Cost (₹)Marginal Cost (₹)
012--
11818-12=618-12=6
22121-12=921-18=3
[Hint: The fixed cost is to be incurred even when output is zero. Thus, in the above example, 12 is fixed cost. The variable cost is the difference between total cost and fixed cost.]

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