Practicing Success
Average variable cost at some level of output is therefore, the average of all marginal
costs up to that level. Is this statement true? |
Yes No Maybe yes Maybe no |
Yes |
AVC is TVC divided by number of units of output and TVC at any level is the sum of marginal costs up to that level . So, Average variable cost at a level of output is therefore, the average of all marginal costs up to that level. |