Which of the following equations is correct?Group of answer choicesAVC − ATC = AFCAVC + ATC = AFCAFC + AVC = ATCATC + AVC = AFC
Question
Which of the following equations is correct?Group of answer choicesAVC − ATC = AFCAVC + ATC = AFCAFC + AVC = ATCATC + AVC = AFC
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Solution 1
The correct equation is AFC + AVC = ATC.
Explanation:
- AFC stands for Average Fixed Cost, which is the total fixed cost divided by the quantity of output.
- AVC stands for Average Variable Cost, which is the total variable cost divided by the quantity of output.
- ATC stands for Average Total Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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