if AC = Average Cost of production , TC = Total Cost of production VC = Variable Cost of production FC = Fixed Cost of production Q = Quantity of goods prod...

Question 1 Report

if AC = Average Cost of production ,

TC = Total Cost of production

VC = Variable Cost of production

FC = Fixed Cost of production

Q = Quantity of goods produced

Then,

AC = TC; TC = VC + FC

AC = (TC) Q: TC = VC + FC

AC = TC; TC = (VC)(FC) Q

AC = TC- FC: VC = TC- AC

AC = TC ; TC = VC + AC Q

The Theory Of Production

Theory Of Costs

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