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What is average total cost

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Reference no: EM132496392

Question 1: What is average total cost?

  1. Total cost divided by the quantity of output produced.
  2. Total explicit costs divided by the quantity of output produced.
  3. Variable cost divided by the quantity of output produced.
  4. The change in fixed plus variable cost divided by the quantity of output produced.

Reference no: EM132496392

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