Download App

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

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 8 CONCEPTS OF COST1 Mark
Question
State the formula to determine average cost.
✓

Answer

Average Cost $=\frac{\text { Total Cost }}{\text { Quantity of Output }}$
Or
Average Cost =  Average Fixed Cost + Average Variable Cost

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from MICROECONOMICS CH : 8 CONCEPTS OF COST→MICROECONOMICS CH : 8 CONCEPTS OF COST — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Give meaning of cost.
Or
What does cost mean in Economics?
→
What is meant by normative economics?
→
What is meant by 'Dispersion'?
OR
Give the meaning of dispersion.
→
How is price affected by increase in supply?
→
Classify the following as fixed cost and variable cost:
Licence fees paid to State Commission.
→
The Reserve Bank of India should reduce the rate of money supply.(Positive, Normative )
→
Define economics.
→
What is meant by budget set?
→
What is raw data?
→
What is meant by average cost?
→