Average cost

Average cost is the cost per unit at a given level of production; it is equal to total costs divided by production.

Definition

According to Marketing Management by Keller and Kotler (15th edition),

Average cost. The cost per unit at a given level of production; it is equal to total costs divided by production.

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Average cost. See unit cost.

According to Managerial Accounting by Braun, Tietz (5th edition),

Average cost. The total cost divided by the number of units.