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Definitions from WordNet

Definitions from the Web

1. Definition:

   Average cost refers to the total expenditure divided by the number of units produced or sold, providing the per-unit cost on average.

2. Sample Sentences:

   • The average cost of producing a single pair of shoes is $20.
   • The company's profit margin depends on keeping the average costs low.
   • I calculated the average cost of groceries per month and was surprised by the result.

3. Related Products:

   Accounting for Managers
   Cost Analysis: A Systematic Approach
   Business Economics: Theory and Application