Concepts of Cost Notes PDF — CBSE Class 11

Concepts of Cost examines the expenses a producer incurs at different output levels. These notes connect fixed, variable, total, average and marginal costs and explain the shapes and relationships of short-run cost curves.

Important topics covered

• Fixed, variable and total cost
• Average fixed, average variable and average total cost
• Marginal cost
• Cost schedules and curves
• Relationship between marginal and average cost

Exam-focused revision checklist

1. Practise deriving every cost from a given table.
2. Remember that TFC remains constant while AFC continuously falls.
3. Use MC to explain changes in AVC and AC.

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Frequently asked questions

Are these notes free?

Yes. The complete PDF is free to view online and download.

Who prepared these notes?

These CBSE Commerce revision notes are published by Smit Sir Commerce.