Average variable cost

 

 

 

Average variable cost

 

Glossary of business

 

Definition of average variable cost

 

The average variable cost is the total variable cost divided by output. The average variable cost curve (a short-run cost curve) will generally be u-shaped as the firm initially gets more efficient and then at higher levels of output diminishing returns set in and they get less efficient.

 

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

 

Job world

 

 

Definition and meaning of average variable cost

 

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Meaning of average variable cost

 

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