5. Total, average and marginal cost - Diocesan College

5. Total, average and marginal cost 1. Define the following terms and give the formula used to calculate them Term Written definition Formula 1.1 Marginal Cost 1.2 Average Cost 2. Fill in the table below Output TFC AFC TVC AVC TC AC MC 0 100 - 0 - 100 - - 1 100 100 10 10 110 110 10 2 … ................
................