Marginal Cost

• Marginal cost is the additional cost occurred when you produce additional unit of good

Average Fixed Cost

• Average Fixed Cost is the fixed cost per unit of output.

• The average fixed cost is the ratio between the fixed cost and quantity produced

• Average Fixed Cost -: Fixed Cost / Output Produced

Average Variable Cost

• The average variable cost is the variable cost per unit of output

• Average variable cost is the ratio between variable cost and quantity produced

• Formula -: Variable Cost / Quantity Produced

Average Total Cost

• Average Total Cost is the total cost per unit of output.

• Its the average cost of fixed and variable cost