Quizlet
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| 1-1 of 1Average cost flashcard sets | |||
|---|---|---|---|
| # | Title | Terms | Date |
| 1 | ECO100: Average Costsby aviiieee | 2 terms | September 14, 2007 |
No groups found.
| average cost definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | total cost of undertaking n units of an activity divided by n | 3 sets | |
| 2 | the total cost divided by the quantity produced | 3 sets | |
| 3 | ratio of costs to the number of units being produced, sometimes called the per-unit cost | 2 sets | |
| 4 | cost per unit of activity | 2 sets | |
| 5 | total cost of undertaking n units of an activity divided by n. | 2 sets | |
| 6 | the total cost divided by the units of output produced | 1 set | |
| 7 | what equals total cost divided by output? | 1 set | |
| 8 | another term for unit cost | 1 set | |
| 9 | total cost for all units bought (or produced) divided by the number of units | 1 set | |
| 10 | cost of goods available for sale/number of units available for sale | 1 set | |
| 11 | a cost per unit | 1 set | |
| 12 | total cost divided by the level of output. | 1 set | |
| 13 | total cost / total output | 1 set | |
| 14 | total cost/number of items | 1 set | |
| 15 | total cost divided by quantity. for example, if the total cost is $100 and the quantity is 10, then the average cost is $10. average cost is often called per unit cost. | 1 set | |
| 16 | total cost divided by the quantity of output | 1 set | |
| 17 | the average cost of production per unit, calculaged by dividing the tptal cost by the quantity producted. it is equal to average variable cost + average fixed cost | 1 set | |
| 18 | tc//q -or- vc//q +fc//q | 1 set | |
| 19 | total cost of undetaking n units divided by n | 1 set | |
| 20 | total cost divided by output (tc/q) | 1 set | |
| 21 | in production: the total cost divided by the number of units | 1 set | |