average cost

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average cost

The cost per unit of output, calculated as the cost, or benefit, of all units of output divided by the number of units.
Segen's Medical Dictionary. © 2012 Farlex, Inc. All rights reserved.

average cost

Average benefit Managed care The cost per unit of output, calculated as the cost or benefit of all units of output divided by the number of units
McGraw-Hill Concise Dictionary of Modern Medicine. © 2002 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
8 shows the variation of the average total costs per time unit according to time in the case of [C.sub.r] = 1.25 for various values of [beta].
By March 2005, when all costs were presumably accounted for, average total costs of compliance had ballooned to $4.36 million, up 39 percent from the $3.14 million estimate in July 2004.
The average total cost of hospitalization for the 304 patients was $1,242 per day during the 20 days prior to the start of palliative care and $753 per day during the 20 days after palliative care began--an estimated cost savings of $489 per day for each patient.
When we estimated only housing-related construction costs, the average total cost for all units under the HOPE VI program was about 35 percent greater than a two-bedroom tax credit unit and 10 percent greater than a three-bedroom tax credit unit.
Using average total cost to compute the LERNER index may potentially bias our estimates because economic theory holds that margins should be estimated using marginal cost.
Average total costs for patients with aminoglycoside peak concentrations [less than or equal to]4.8 mg/L were ~1.8-fold higher than costs for patients whose concentrations were >4.8 mg/L.
The above example demonstrates that process innovations may not only lower average total costs (from ATC1 to ATC2, in Figure 3), but such innovations might at times even heighten differentiation, potentially shifting the demand curve (from D1 to D2), as portrayed in Figure 3.
The most often alleged unfair trading practice is dumping - the act of selling goods for a lower price abroad than in the home or other markets or selling at below average total costs. During the 1960s, GATT member countries initiated fewer than twelve antidumping actions per year.
In addition, many, but not all, nursing home cost function estimates employ average operating costs, rather than average total costs, as the dependent measure.
The average total costs for four of the libraries ranges from $25 to $28, compared to $11.50 for MCFL, and an average across libraries of $15.37.
If economies of scale do exist in an industry, then as production rises, average total costs should fall.