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Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost1 Mark
Question
What is meant by average cost?
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Answer

Average cost is per unit cost of production.$\text{AC}=\frac{\text{Total Cost}}{\text{Number of units produced}}=\frac{\text{TC}}{\text{Q}}$

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