The overall cost of producing each unit at a given rate of production is the a....
The overall cost of producing each unit at a given rate of production is the
a. Total cost
b. Average variable cost
c. Marginal cost
d. Average total cost
Homework Answers
This overall cost is called total cost because it is the sum of fixed cost and variable cost .
Fxed cost is constant for each output in short run .
variable cost increases as the output production increases and sum of these two gives the overall cost of producing each unit at a given rate of production .
so the answer is option a
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