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Economics
Micro Economics: Production and Costs
Calculate the short run average cost when total cost is 95 with 9 units of output.
9.55
11
10
10.55
The correct answer is Option (4) → 10.55
Given:
Total Cost (TC) = 95
Output (Q) = 9 units
Average Cost (AC)=Total Cost / Output = 95 / 9 = 10.55
