Average Total Cost Tells Us the

Multiple Choice

Average total cost tells us the

A) total cost of the first unit of output, if total cost is divided evenly over all the units produced.
B) cost of a typical unit of output, if total cost is divided evenly over all the units produced.
C) cost of the last unit of output, if total cost does not include a fixed cost component.
D) variable cost of a firm that is producing at least one unit of output.