Answer:
Correct option is (C)
Explanation:
Average total cost is the sum of average fixed cost and average variable cost. it can also be termed as the ratio of total cost to total output produced. It is the per unit price of a product.
For example, cost of producing 4 boxes of chocolate is $480. Per unit cost or average total cost of producing one box is $120 (480/4). It is a U-shaped curve.
