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Average cost for typesetting4/9/2023 ![]() ![]() ![]() It is the type of cost which is not dependent on the business activity. Generally, the total fixed cost Fixed Cost Fixed Cost refers to the cost or expense that is not affected by any decrease or increase in the number of units produced or sold over a short-term horizon. We can further break down the total cost of production into fixed and variable cost components. It is also known as unit cost or average total cost. It forms a fundamental component of demand and supply that affects the supply curve. In other words, it measures the amount of money that the business has to spend to produce each unit of output. Average cost refers to the per-unit cost of production, which is calculated by dividing the total cost of production by the total number of units produced. ![]()
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