If total cost is ₦900 and output is 45 units, calculate average cost:
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option B
Explanation:
Formula:<br/>AC = TC ÷ Output ₦900 ÷ 45<br/>= ₦20 Average cost shows the cost per unit produced.
Formula:<br/>AC = TC ÷ Output ₦900 ÷ 45<br/>= ₦20 Average cost shows the cost per unit produced.