Average Variable Cost (AVC) is the cost of variable inputs for every unit produced. It is calculated by
Tag: costs of production
total variable costs
Total Variable Costs (TVC) are business expenses that change directly based on the level of output produced. These
average fixed costs
Average Fixed Cost (AFC) represents the fixed cost per unit of output. It is calculated by dividing the
total fixed costs
Total Fixed Costs (TFC) are business expenses that do not change based on how much a company produces.