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
What is meant by average cost?
✓

Answer

Average cost is the expenditure incurred by the firm on the fixed factors, estimated per unit of output.

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

In which type of data high degree of precaution is required?
→
Give the meaning of non-economic activity.
→
Provision of healthcare facilities for all citizens via government is essential.(Positive, Normative )
→
What will be the elasticity of demand for goods to which the consumer is habituated?
→
What is secondary data? Give one example of secondary data.
→
Name two determinants of consumer's demand for a commodity.
→
Give meaning of cost.
Or
What does cost mean in Economics?
→
What is the importance of presenting data in graphical form? Which value is key to the graphical presentation of the data?
→
Why is range not calculated for open-ended frequency distribution?
→
Differentiate between chronological and spatial classification.
→