Question
If average variable costs is equal to $237 and average fixed cost is equal to $64.25, then average total cost is_______
Answers
GPT-4o mini
Average total cost (ATC) is the sum of average variable cost (AVC) and average fixed cost (AFC).
Given:
- Average Variable Cost (AVC) = $237
- Average Fixed Cost (AFC) = $64.25
To find the Average Total Cost (ATC), you can use the formula:
\[
ATC = AVC + AFC
\]
Substituting the given values:
\[
ATC = 237 + 64.25 = 301.25
\]
Therefore, the average total cost is **$301.25**.
Given:
- Average Variable Cost (AVC) = $237
- Average Fixed Cost (AFC) = $64.25
To find the Average Total Cost (ATC), you can use the formula:
\[
ATC = AVC + AFC
\]
Substituting the given values:
\[
ATC = 237 + 64.25 = 301.25
\]
Therefore, the average total cost is **$301.25**.