Economics B A-Level
Average total cost
What Average total cost means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Average total cost
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Reference: Pearson Edexcel
Total cost divided by quantity, which is different from the cost of producing one additional unit.
Topics that use Average total cost
- Appendix 3: Quantitative skills (Pearson Edexcel A-Level)
Related terms
- Base year
- Cross elasticity of demand
- Data interpretation
- Fraction
- Income elasticity of demand
- Index numbers
- Inflation measurement
- Marginal cost
Using Average total cost in the exam
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