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What is average cost in the producing output?
Average total cost, frequently considered as to simply average cost, is sum of total cost divided through quantity of output generated.
ATC = TC/Q
Average fixed cost:
It is the fixed cost per unit of output as:
AFC = FC/Q
Average variable cost:
It is the variable cost per unit of output as:
AVC = VC/Q
complexity theory elements
It refers to the study of feasibility of a project in terms of its total economic cost and total economic advantages. It means to compare total cost with total advantage if we
list of all theories of business cycle theories
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