Average cost flashcard sets

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1-1 of 1Average cost flashcard sets
# Title Terms Date
1ECO100: Average Costsby aviiieee2 termsSeptember 14, 2007
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average cost definitions
# Definition Sets
1cost per unit of activity2 sets
2total cost of undertaking n units of an activity divided by n2 sets
3the total cost divided by the quantity produced2 sets
4total cost of undertaking n units of an activity divided by n.2 sets
5ratio of costs to the number of units being produced, sometimes called the per-unit cost2 sets
6total cost / total output1 set
7what equals total cost divided by output?1 set
8cost of goods available for sale/number of units available for sale1 set
9total cost for all units bought (or produced) divided by the number of units1 set
10the total cost divided by the units of output produced1 set
11total cost/number of items1 set
12tc//q -or- vc//q +fc//q1 set
13the 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 cost1 set
14another term for unit cost1 set
15total 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
16in production: the total cost divided by the number of units1 set
17total cost divided by output (tc/q)1 set
18total cost divided by the quantity of output1 set
19total cost of undetaking n units divided by n1 set