Define: Average Total Cost

UK Accounting Glossary

Definition: Average Total Cost



Advertisement



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.


Advertisement




Cite Term


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.

Page URL
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.