Production Cost table is a table which shows the average variable, average fixed and average total costs.
Explanation:
The production cost table in a numerical shows the different types of costs. It shows the average variable cost, the average fixed cost and then with that the average total cost is calculated.
It shows that for producing a particular amount of quantity of goods, what would be the cost of the production. This will further help in knowing the profits that is to be earned from that capacity.
