Fixed cost, variable cost, marginal cost and average cost

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In this video, you will learn:

- The difference between fixed and variable costs

- How to calculate marginal and average costs

- How marginal and average costs change with output

Topics:  Knowledge
EnhanceTuition 

3:46 The correct calculation for 120/5 should be 24, NOT 40.


One in a billion 

The fact that they called it marginal cost is confusing as I wouldn't even look at total product


PryttiNikki 

Hi! Is there any way that you can help me with a problem in reference to average cost? I am having so much trouble