Average cost

 

 

 

Average cost

 

Glossary of business

 

Definition of average cost

 

The amount spent on producing each unit of output. The average cost is calculated by dividing the total cost by the level of output. This gives the cost per unit which is made up of two elements - the average fixed cost and the average variable cost.

 

Source : http://business-tes.wikispaces.com/file/view/Glossary.doc

link: http://business-tes.wikispaces.com/

Author : not indicated on the source document of the above text

 

Terminology about business

 

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Definition and meaning of average cost

 

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Meaning of average cost

 

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