Economics A-Level
Average Cost of Labour (ACL)
What Average Cost of Labour (ACL) means in Economics A-Level, as defined for AQA.
Definition of Average Cost of Labour (ACL)
Check what you remember
Read the wording for your board, then hide it and explain Average Cost of Labour (ACL) in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The upward-sloping labour supply curve faced by a monopsony employer, from which the wage rate is read at the profit-maximising quantity.
Topics that use Average Cost of Labour (ACL)
- The determination of relative wage rates and levels of employment in imperfectly competitive labour markets (AQA A-Level)
Related terms
- Imperfect information
- Marginal Cost of Labour (MCL)
- Monopsony power
- Profit maximisation
- Trade unions
- Wage determination
- Collective bargaining
Using Average Cost of Labour (ACL) in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Economics A-Level termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge