Unit 3.7.2 - Calculation of costs of productionThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to be able to calculation the aforementioned costs of production: TC, ATC, FC, VC, AFC, and AVC. In addition to the definitions and calculations, students are expected to be able to draw and interpret diagrams that show how changes in output affect costs of production.ATC = TC / Q