AVERAGE VARIABLE COST
average variable cost.The average cost per unit of output, arrived at by dividing the total cost
(fixed cost and variable cost) by output. See COST (1). Cf. LONG-RUN INCREMENTAL COST.[Blacks Law 8th]
average variable cost.The average cost per unit of output, arrived at by dividing the total cost
(fixed cost and variable cost) by output. See COST (1). Cf. LONG-RUN INCREMENTAL COST.[Blacks Law 8th]