The total cost is divided by production level to calculate _________?
Correct answer: A. average costs
- A. average costs
- B. fixed costs
- C. variable costs
- D. discounted costsTake Economics Courses
Explanation
Average cost is found by dividing total cost by the level of output: average cost = total cost ÷ quantity produced. Fixed and variable costs are components of total cost, not the result of this division.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
The image pricing, location pricing, channel pricing and time pricing are all types of price discrimination of __________?
The type of auction which have many buyers and only one seller and the bidder raises the price of an offer is classified as _________?
The price discrimination in which seller charges less to the customers, who buy in large volumes is classified as __________?
The pricing value of the product which is based on image of buyers about customer support, warranty and support is classified as _________?
The selling of the product's price is set with the help of ________?
If the demand for the product does not change with the small change in price then the demand is said to be ________?