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3 A cost-schedule is a statement of variations in costs resulting from variations in the levels of output and it shows the response of costs to changes in output. If we represent the relationship between changes in the level of output and costs of production, we get different types of cost curves in the short run. Define the kinds of cost concepts like TFC, TVC, TC, AFC, AVC, AC and MC and its corresponding curves with suitable diagrams for each. kinds of cost concepts like TFC, TVC, TC, AFC, AVC, AC and MC and its corresponding curves suitable diagrams

February 27, 2015 By: Meliza Category: 1st SEM

Answer:- Hypothetical Cost Schedule

Output in Units TFC

in Rs.

TVC

in Rs.

TC

in Rs.

AFC

in Rs.

AVC

in Rs.

AC

In Rs.

MC

in Rs.

0 360 360
1 360 180 540 360 180 540 180

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