Multiple Choice Questions on The short run average cost SAC is defined as the total cost per unit of output It is the sum of aver........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

The short run average cost SAC is defined as the total cost per unit of output It is the sum of aver...........

Economics (CUET) Theory of Production and Cost
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    The short run average cost (SAC) is defined as the total cost per unit of output. It is the sum of average variable cost (AVC) and average fixed cost (AFC).
    1 onlyCorrect Answer
    2 onlyIncorrect Answer
    1 and 3 onlyIncorrect Answer
    None of the aboveIncorrect Answer
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    Explanation:

    SAC is total cost per unit, made up of AVC and AFC.

    Option 1: Correct in representing SAC.

    Options 2, 3, and 4: Do not appropriately explain SAC.

    By: Parveen Bansal
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