Average cost

1. The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the total output (Q). By per unit cost of production, we mean that all the fixed and variable cost is taken into the consideration for calculating the average cost. Thus, it is also called as Per Unit Total Cost.
2. Average cost is an important factor in determining the supply and demand within the market.

Sources:

What is Average Cost? definition and meaning - Business Jargons. Business Jargons. Retrieved from: https://businessjargons.com/average-cost.html

Average Cost - Definition, What is Average Cost, Advantages of Average Cost, and Latest News - ClearTax. Cleartax. Retrieved from: https://cleartax.in/glossary/average-cost/