| List - I (Concepts) | List - II (Definitions) |
|---|---|
| A. Total Fixed Cost | I. The total cost that remains constant irrespective of the level of output produced |
| B. Average Variable Cost | II. The total variable cost divided by the level of output |
| C. Marginal Cost | III. The cost incurred by producing one additional unit of output |
| D. Average Total Cost | IV. The total cost (fixed + variable) divided by the quantity of output produced |
1
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
2
(A) - (II), (B) - (IV), (C) - (III), (D) - (I)
3
(A) - (III), (B) - (I), (C) - (IV), (D) - (II)
4
(A) - (IV), (B) - (III), (C) - (II), (D) - (I)