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Variable costs of production divided by total output
In economics, average variable cost (AVC) is a firm's variable costs (VC; labour, electricity, etc.) divided by the quantity of output produced (Q): A
Average_variable_cost
Total cost divided by number of goods produced
variable cost curve (and hence the first derivative of variable cost). A typical average cost curve has a U-shape, because fixed costs are all incurred
Average_cost
Graph used in economics
following short-run cost curves: Short-run average fixed cost (SRAFC) Short-run average total cost (SRAC or SRATC) Short-run average variable cost (AVC or SRAVC)
Cost_curve
Fixed costs of production divided by the quantity of output
The average fixed cost is a reciprocal function that plots a rectangular hyperbola. Average variable cost plus average fixed cost equals average total
Average_fixed_cost
Cost added by producing one additional unit of a product or service
cost reaches its minimum is smaller than the average total cost and average variable cost. When the average total cost and the average variable cost reach
Marginal_cost
Halting output when costs are excessive
not producing at all. Technically, shutdown occurs if average revenue is below average variable cost at the profit-maximizing positive level of output. Producing
Shutdown_(economics)
Total economic cost of production
of total cost or variable cost. Either of these derivatives work because the total cost includes variable cost and fixed cost, but fixed cost is a constant
Total_cost
Combination of losses of goods
as variable costs. Fixed cost (TFC) are the costs of the fixed assets those that do not vary with production. Total fixed cost (TFC) Average cost (AC)
Economic_cost
Concepts in economics
producing if average variable cost is less than price per unit, even if average total cost is greater than price; Shut down if average variable cost is greater
Long_run_and_short_run
Deliberately undercutting prices to eliminate competition
a firm can recover its short-term losses from pricing below the average variable cost (AVC). However, recoupment is not a precondition for establishing
Predatory_pricing
Market structure in which firms are price takers for a homogeneous product
MC {\displaystyle {\text{MC}}} curve at and above minimum of the average variable cost curve and a segment that runs on the vertical axis from the origin
Perfect_competition
Money spent to produce or procure goods or services
organization Repugnancy costs Semi-variable cost Total cost Variable cost Gross profit is revenue minus the cost of goods sold. O'Sullivan, Arthur; Sheffrin
Cost
semi-variable cost (also referred to as a mixed or semi-fixed cost) is an expense which contains both a fixed cost component and a variable cost component
Semi-variable_cost
Topics referred to by the same term
United States, a legal device Atrioventricular canal, in the heart Average variable cost, a metric used in economics This disambiguation page lists articles
AVC
Market structure with a single firm dominating the market
less than average variable cost for every output level – in other words where the demand curve is entirely below the average variable cost curve. Under
Monopoly
Behavior of individuals and firms
average total cost, average variable cost, average fixed cost, and marginal revenue, which, in a price-taking firm, is equal to demand, average revenue, and
Microeconomics
Amount of a good that sellers are willing to provide in the market
is the marginal cost curve above the shutdown point—the short-run marginal cost curve (SRMC) above the minimum average variable cost. The portion of the
Supply_(economics)
Carrying value of goods sold during a particular period
formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs
Cost_of_goods_sold
Cost advantages obtained via scale of operation
some productions, an increase in the size of the plant reduces the average variable cost, thanks to the energy savings resulting from the lower dispersion
Economies_of_scale
Measure of lifetime average net present cost of electricity generation
The levelized cost of electricity (LCOE) is a measure of the average net present cost of electricity generation for a generator over its lifetime. It
Levelized_cost_of_electricity
Strategy of setting prices based on a fixed markup percentage
business people do not do marginal cost calculations, but one can arrive at the same conclusion using average variable costs (AVC): (P / AVC) = (1 / (1
Cost-plus_pricing
Costs of owning and operating a car
has a relatively high cost per passenger-distance traveled. For the average car owner, depreciation constitutes about half the cost of running a car. The
Car_costs
Topics referred to by the same term
produced Average fixed cost Average variable cost Marginal cost, the decrease in costs resulting from producing more items Cost curve, a graph of the cost of
Cost_(disambiguation)
output produced. average variable cost A firm's variable costs (labour, electricity, etc.) divided by the quantity of output produced. Variable costs are those
Glossary_of_economics
Comparison of costs of different electricity generation sources
assist governments in making decisions regarding energy policy. On average the levelized cost of electricity from utility scale solar power and onshore wind
Cost_of_electricity_by_source
Unrecoverable cost that has been incurred
should not be deemed a "fixed" cost, with its cost spread out over time. Sunk costs should be kept separate. The "variable costs" for this project might
Sunk_cost
Unit selling price minus its variable cost
per unit minus the variable cost per unit. "Contribution" represents the portion of sales revenue that is not consumed by variable costs and so contributes
Contribution_margin
Levies on hydrocarbons in the North American country
inflation, which increased 122% from October 1993 until November 2025. On average, as of April 2019[update], state and local taxes and fees add 34.24 cents
Fuel taxes in the United States
Fuel_taxes_in_the_United_States
American attorney (1921–1994)
the price set is below short term average variable cost, which is a more easily ascertained substitute for marginal cost. By this measure, a court can determine
Donald_F._Turner
Statistical modeling method
(dependent variable) and one or more explanatory variables (regressor or independent variable). A model with exactly one explanatory variable is a simple
Linear_regression
Cost to live based on price of necessities
The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Cost-of-living calculations are also used
Cost_of_living
Financial estimate; accounting concept
United States, AAA's annual Your Driving Costs study estimated the average total cost of new-vehicle ownership at $11,577 per year in 2025, driven by depreciation
Total_cost_of_ownership
Class of renewable energy sources
average power output becomes less variable. Intermittence: Regions smaller than synoptic scale, less than about 1000 km long, the size of an average country
Variable_renewable_energy
Automotive transmission technology
A continuously variable transmission (CVT) is an automatic transmission that can change through a continuous range of gear ratios, typically resulting
Continuously variable transmission
Continuously_variable_transmission
Equality of costs and revenues
the break-even point if the dollar value of sales is higher than the variable cost per unit. This means that the selling price of the goods must be higher
Break-even_point
Economic theory
increasing average costs. Cost is measured in terms of opportunity cost. In this case the law also applies to societies – the opportunity cost of producing
Diminishing_returns
Approach to selling a product or service
price of a product includes the variable cost of each item plus a proportionate amount of the fixed costs: Unit Variable Costs + Overhead + Managing Costs
Pricing_strategy
Opening to admit light, air, or objects
shading devices and internal shading devices. Low-e window film is a low-cost alternative to window replacement to transform existing poorly-insulating
Window
Aspect of monopolistic markets
unit to be supplied to the market by the firm. The marginal cost is higher than the average cost because of diminishing marginal product in the short run
Monopoly_price
Model of the constraints of project management
other variable or flow. Vendor bid analysis: taking the average of several bids given by vendors for the project. Reserve Analysis: Aggregate the cost of
Project_management_triangle
A cost of funds index (COFI) is a regional average of interest expenses incurred by financial institutions, which in turn is used as a base for calculating
Cost_of_funds_index
Measure of dependence between two variables
mutual information (MI) of two random variables is a measure of the mutual dependence between the two variables. More specifically, it quantifies the
Mutual_information
Life insurance combining flexible premiums with investment-linked cash-value accounts
capital needs of his or her dependents. In one form of variable universal life insurance, the cost of insurance purchased is based only on the difference
Variable universal life insurance
Variable_universal_life_insurance
Expected value of a random variable given that certain conditions are known to occur
mean of a random variable is its expected value evaluated with respect to the conditional probability distribution. If the random variable can take on only
Conditional_expectation
Better to receive money now than later
either the variable solved for, or a predefined variable that measures a discount rate, interest, inflation, rate of return, cost of equity, cost of debt
Time_value_of_money
Mortgage loan with an interest rate that changes based on credit markets
which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender's standard variable rate/base rate. There
Adjustable-rate_mortgage
Variable used by search engines to set the rank and cost of ads
Index), Facebook (called Ad Quality) and Bing that influences the ad rank and cost per click (CPC) of ads. To determine the position of the ad on a search engine
Quality_Score
of the variable costs relating to the unit produced. 72 Moreover, prices below average total costs, that is to say, fixed costs plus variable costs, but
AKZO_Chemie_BV_v_Commission
Measure of prices in different countries
be compared. Various ways of averaging bilateral PPPs can provide a more stable multilateral comparison, but at the cost of distorting bilateral ones
Purchasing_power_parity
Statistical amount
mean Weighted least squares Weighted median Weighted moving average Weighted sum of variables Weighting Standard error of a proportion estimation when using
Weighted_arithmetic_mean
of the large capital investment, and the low variable cost of operations, nuclear plants are most cost effective when they can run all the time to provide
Economics of nuclear power plants
Economics_of_nuclear_power_plants
Change in output that results from employing an added unit of labor
Marginal cost (MC) is the change in total cost per unit change in output or ∆C/∆Q. In the short run, production can be varied only by changing the variable input
Marginal_product_of_labor
Finance term; profit on an investment
Capital budgeting Compound annual growth rate Compound interest Dollar cost averaging Economic value added Effective annual rate Effective interest rate Expected
Rate_of_return
Statistical test of variance
to predict "Average cost of claims" (variable name "claimamt") by three independent variables (Predictors): "Number of claims" (variable name "nclaims")
Omnibus_test
Estimation of the cost of a project
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process.
Cost_estimate
Bayesian variable selection technique in statistics
particular variable is included in the regression or not. If no specific prior information on initial inclusion probabilities of particular variables is available
Spike-and-slab_regression
Process to determine the highest profits for a firm
short run span of time under consideration. Fixed cost and variable cost, combined, equal total cost. Revenue is the amount of money that a company receives
Profit_maximization
Amount of heat a computer's cooling system must dissipate
capacities and desired power consumption. Technologies that provide such variable TDPs include Intel's configurable TDP (cTDP) and scenario design power
Thermal_design_power
Algorithm for linear programming
also known as relative cost coefficients, are the rates of change of the objective function with respect to the nonbasic variables. The geometrical operation
Simplex_algorithm
Gambling statistic
and the UK, information about the game cost often includes return-to-player values (for example, the average payout percentage or the percentage of money
Return_to_player
Type of chart
example of two anti-depressants, a researcher can rank variables such as efficacy, side effects, cost, etc. on a scale of one to ten. They could then graph
Radar_chart
Mathematical relation assigning a probability event to a cost
function or cost function (sometimes also called an error function) is a function that maps an event or values of one or more variables onto a real number
Loss_function
from it. The GMROII answers the question "for each unit of average inventory held at cost, how many units of currency of gross profit I generated in one
Gross margin return on inventory investment
Gross_margin_return_on_inventory_investment
Valuation in finance
future cash flows to the present value is a key variable of this process. A firm's weighted average cost of capital (after tax) is often used, but many
Net_present_value
Algorithm for finding shortest paths
graph and starting vertex but with variable edge weights. To achieve this, they use a comparison-based heap whose cost of returning/removing the minimum
Dijkstra's_algorithm
Early computer
The contract named the device the Electronic Discrete Variable Automatic Calculator. The final cost of EDVAC, however, was similar to the ENIAC's, at just
EDVAC
Branch of mathematics
Calculus is the "mathematical backbone" for solving problems in which variable quantities change with time or another reference value. It has also been
Calculus
Method of cost analysis, which itemizes the cost of a certain product into its components
estimated. Pursuing decent results, the dependent cost variable needs to be regressed on multiple cost drivers. Additionally to that, this type of analysis
Cost_breakdown_analysis
Describes the general shape and layout of an aircraft wing
See also variable geometry types which vary the wing planform during flight. The aspect ratio is the span divided by the mean or average chord. It is
Wing_configuration
Species of butterfly
The variable checkerspot or Chalcedon checkerspot (Euphydryas chalcedona) is a butterfly in the family Nymphalidae. It is found in western North America
Variable_checkerspot
Indicator for how well data points fit a line or curve
proportion of the variation in the dependent variable that is predictable from the independent variable(s). It is a statistic used in the context of statistical
Coefficient_of_determination
Difference between the cost and the selling price of a good or service
doing business and create a profit. The total cost reflects the total amount of both fixed and variable expenses to produce and distribute a product.
Markup_(business)
Conditional Poisson distribution restricted to positive integers
zero claims. Let X denote the random variable representing the number of insurance claims. If λ is the average rate of claims, the ZTP probability mass
Zero-truncated Poisson distribution
Zero-truncated_Poisson_distribution
Microeconomics effect
to the lowest average output cost and try to recognise any external diseconomies of scale. Moreover, on reaching the lowest average cost, a firm must either
Diseconomies_of_scale
Piece of machine equipment
fixed-speed-operation speeds is constrained by cost as number of pole pairs increases. If many different speeds or continuously variable speeds are required, other methods
Motor_drive
Cooling output divided by electricity input, as a standard for HVAC systems
The average power usage may also be calculated more simply by: Average power = (BTU/h) ÷ (SEER) = 5000 ÷ 10 = 500 W = 0.5 kW If the electricity cost is
Seasonal energy efficiency ratio
Seasonal_energy_efficiency_ratio
Programming paradigm in which many processes are executed simultaneously
allows one thread to take control of a variable and prevent other threads from reading or writing it, until that variable is unlocked. The thread holding the
Parallel_computing
Probability distribution
parameters, denoted by alpha (α) and beta (β), that appear as exponents of the variable and its complement to 1, respectively, and control the shape of the distribution
Beta_distribution
Income or output generated from economic inputs or investments
foundational principle of microeconomics and underlies the U-shaped average cost curve in standard production theory. In macroeconomic growth theory,
Economic_return
Life insurance providing coverage for a fixed period with no cash-value component
contrasted to permanent life insurance such as whole life, universal life, and variable universal life, which guarantee coverage at fixed premiums for the lifetime
Term_life_insurance
Income adjusted for inflation
price level. Real variables such as real income and real GDP are variables that are measured in physical units, while nominal variables such as nominal
Real_income
Production scheduling model
1 = ( Q − s ) / λ {\displaystyle T_{1}=(Q-s)/\lambda } . The average annual variable cost is the sum of order costs, holding inventory costs and backorder
Economic_order_quantity
Type of electrical transformer
at the far end of the line receive the same average voltage as those closer to the source. The variable ratio of the autotransformer compensates for
Autotransformer
Measure for evaluating probabilistic forecasts
the underlying distribution of the target variable. Scoring rules and scoring functions are often used as "cost functions" or "loss functions" of forecasting
Scoring_rule
Amount of pay needed to replace an asset's current worth
"replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the actual cost to replace
Replacement_value
Goods held for resale
may boost inventory) and considers labor as a fixed rather than as a variable cost. He defines inventory simply as everything the organization owns that
Inventory
Management strategy for global warming
100 W/m2. The average PDRC has an estimated cooling power of ~100–150 W/m2. PDRC applications are deployed as sky-facing surfaces. Low-cost scalable PDRC
Passive daytime radiative cooling
Passive_daytime_radiative_cooling
Concept created by Karl Marx
average OCC. Finally, a technological revolution can also radically change the proportions between constant and variable capital, reducing the cost of
Organic composition of capital
Organic_composition_of_capital
Mass per unit volume
determined empirically. Some bulk materials, however, such as sand, have a variable void fraction which depends on how the material is agitated or poured.
Density
Arena in Kaunas, Lithuania
LKL home fixtures. BC Žalgiris and Žalgiris Arena has had the highest average attendance in the Euroleague in 2011–12, 2012–13, 2017–18, 2018–19, 2019–20
Žalgiris_Arena
Sets of characteristics to segment companies and other organizations
lower cost than other forms of business segmentation. However, Webster (2005) believed that this approach misses a set of essential variables. Moreover
Firmographics
Aircraft fuel efficiency
routing can save fuel. Average fuel burn of new aircraft fell 45% from 1968 to 2014, a compounded annual reduction 1.3% with a variable reduction rate. In
Fuel_economy_in_aircraft
Change in output resulting from employing one more unit of a particular input
Marginal revenue productivity theory of wages Marginal cost Production theory Average product Cost of production Shadow price Brewer, Anthony (2010). The
Marginal_product
Model used by cost accountants to determine profit
that w (average unit production cost) includes the fixed and variable costs. The square brackets contain the cost of goods sold, wq not cost of good made
Profit_model
on capital. Rate-of-return regulation is similar, but not identical to, cost-based or profit margin regulations, in which a company's maximum profit margin
Rate-of-return_regulation
Estimations of customer demand
fundamentally they provide an analysis of how one or multiple variables affect the dependent variable being measured. An example of a model for forecasting demand
Demand_forecasting
Thermodynamic potential
an external variable x is given by X r = − ∂ E r ∂ x . {\displaystyle X_{r}=-{\frac {\partial E_{r}}{\partial x}}.} The thermal average of this can be
Helmholtz_free_energy
Situation where a damaged property's salvage or repair cost exceeds its insured value
repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective
Total_loss
Ratio between two related quantities in different units
independent variable), then the dividend (the fraction numerator) of the rate expresses the corresponding rate of change in the other (dependent) variable. In
Rate_(mathematics)
Device to generate electricity from wind
export quotas, leading to higher supply, lower cost, and greater viability of large-scale use of variable-speed generators. Glass fiber is the most common
Wind_turbine
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
Boy/Male
Hindu
Moderate, Average
Surname or Lastname
English
English : variant spelling of Everidge.
Boy/Male
Tamil
Moderate, Average
Surname or Lastname
English
English : from the feminine personal name Mirabel, equated in medieval records with Latin mirabilis ‘marvellous’, ‘wonderful’ (in the sense ‘extraordinary’).
Boy/Male
Hindi
Valuable.
Boy/Male
Anglo, British, English
Variable
Boy/Male
Arabic, Muslim, Sindhi
Moderate; Average
Boy/Male
Muslim/Islamic
Moderate average
Girl/Female
Armenian
Valuable.
Boy/Male
French
Masculine; manly; brave.
Boy/Male
Muslim
Moderate, Average
Girl/Female
Assamese, Gujarati, Hindu, Indian, Kannada, Malayalam, Marathi, Telugu
Valuable
Boy/Male
Hawaiian
Valuable.
Girl/Female
Arthurian Legend
Sister of Lyones.
Girl/Female
Indian
Valuable
Girl/Female
Tamil
Valuable
Boy/Male
Buddhist, Indian
High Above Average
Surname or Lastname
English (Kent and London)
English (Kent and London) : from Old French verge ‘half-acre’, hence a status name for the owner of that amount of land.Catalan (Vergé) : variant of Verger, topographic name from Catalan verger ‘orchard’ (Latin viridiarium)Catalan : possibly also a nickname from verge ‘maiden’ (Latin virgo ‘maiden’).
Boy/Male
Vietnamese
Valuable.
Girl/Female
Gujarati, Hindu, Indian
Valuable
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
Boy/Male
Gujarati, Hindu, Indian, Kannada, Malayalam, Marathi, Oriya, Telugu
Attractive
Boy/Male
Hindu
Boy/Male
Indian, Traditional
Lord Krishna
Boy/Male
English American Swedish
A Latin Augustus or Augustine, meaning majestic. Often used as an independent name.
Girl/Female
Gujarati, Hindu, Indian
Musical Instruments
Boy/Male
Arabic
Certain; Strong; Firm
Girl/Female
Hindu, Indian
Beautiful; Goddess Durga
Boy/Male
French
Luck.
Surname or Lastname
English
English : apparently a habitational name from a lost or unidentified place, perhaps so called from Old English snæg(e)l ‘snail’ + grÄf ‘grove’.
Boy/Male
American, Australian, British, Chinese, Christian, English, French, German, Irish, Teutonic
Famous Power; Glory
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
AVERAGE VARIABLE-COST
n.
That which is variable; that which varies, or is subject to change.
v. t.
To divide among a number, according to a given proportion; as, to average a loss.
a.
Having value or worth; possessing qualities which are useful and esteemed; precious; costly; as, a valuable horse; valuable land; a valuable cargo.
v. t.
To do, accomplish, get, etc., on an average.
a.
Arable; tillable.
a.
Worthy; estimable; deserving esteem; as, a valuable friend; a valuable companion.
v. i.
To form, or exist in, a mean or medial sum or quantity; to amount to, or to be, on an average; as, the losses of the owners will average twenty five dollars each; these spars average ten feet in length.
v. t.
To supply or impregnate with common air; as, to aerate soil; to aerate water.
imp. & p. p.
of Average
n.
An invariable quantity; a constant.
v. t.
To represent by parable.
a.
Pertaining to an average or mean; medial; containing a mean proportion; of a mean size, quality, ability, etc.; ordinary; usual; as, an average rate of profit; an average amount of rain; the average Englishman; beings of the average stamp.
n.
A mean proportion, medial sum or quantity, made out of unequal sums or quantities; an arithmetical mean. Thus, if A loses 5 dollars, B 9, and C 16, the sum is 30, and the average 10.
n.
A quantity which may increase or decrease; a quantity which admits of an infinite number of values in the same expression; a variable quantity; as, in the equation x2 - y2 = R2, x and y are variables.
a.
Friendly; kindly; sweet; gracious; as, an amiable temper or mood; amiable ideas.
adv.
In a variable manner.
a.
Having the capacity of varying or changing; capable of alternation in any manner; changeable; as, variable winds or seasons; a variable quantity.
a.
Invariable.
a.
Liable to vary; too susceptible of change; mutable; fickle; unsteady; inconstant; as, the affections of men are variable; passions are variable.
a.
According to the laws of averages; as, the loss must be made good by average contribution.