Define: Average Total Cost

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Definition: Average Total Cost

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Full Definition of Average Total Cost

In economics, average cost or unit cost is equal to total cost divided by the number of units of a good produced: It is also equal to the sum of average variable costs and average fixed costs. Average costs may be dependent on the time period considered.

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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

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https://payrollheaven.com/define/average-total-cost/
Modern Language Association (MLA):
Average Total Cost. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 25, 2020 https://payrollheaven.com/define/average-total-cost/.
Chicago Manual of Style (CMS):
Average Total Cost. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/average-total-cost/ (accessed: February 25, 2020).
American Psychological Association (APA):
Average Total Cost. PayrollHeaven.com. Retrieved February 25, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/average-total-cost/

Definition Sources

Definitions for Average Total Cost are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th August 2019.