Questions: Multiple Cholce Question Total variable cost divided by the amount of output produced is equal to: marginal cost. average total cost. average fixed cost. average variable cost.

Multiple Cholce Question Total variable cost divided by the amount of output produced is equal to: marginal cost. average total cost. average fixed cost. average variable cost.
Transcript text: Multiple Cholce Question Total variable cost divided by the amount of output produced is equal to: marginal cost. average total cost. average fixed cost. average variable cost.
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Solution

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The answer is the last one: average variable cost.

Explanation for each option:

  1. Marginal cost: This is the additional cost incurred by producing one more unit of output. It is not calculated by dividing total variable cost by the amount of output.

  2. Average total cost: This is calculated by dividing the total cost (which includes both fixed and variable costs) by the amount of output produced. It is not the same as dividing only the total variable cost by the output.

  3. Average fixed cost: This is calculated by dividing the total fixed cost by the amount of output produced. It does not involve the total variable cost.

  4. Average variable cost: This is calculated by dividing the total variable cost by the amount of output produced. Therefore, this is the correct answer.

In summary, total variable cost divided by the amount of output produced is equal to the average variable cost.

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