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`"Unit Cost (Average Total Cost)" = "Total Costs" / "Quantity" `

Enter a value for all fields

The **Unit Cost or Average Total Cost** calculator computes the mean cost per good.

**INSTRUCTIONS** Choose currency units and enter the following:

- (
**TC**) Total Costs - (
**N**) Quantity of Goods

**Unit Cost:** The calculator computes the Unit Cost (Average Total Cost) in U.S. dollars (USD). However, this can be automatically converted into other currencies via the pull-down menu.

**Related Calculators:**

- Average Variable Costs
- Average Fixed Costs
- Average Total Costs
- Observational Statistics (max, mean, median, mode, standard deviation, variance, sort).

This function is part of the Microeconomics Calculator and of the Production Calculator. The Microeconomics Calculator includes all of the standar formulas used in a first year microeconomics class. The Production Calculator computes the costs in capital and time related to producing or consuming commodities measured by units, length, area, volume or weight.

Unit Cost or Average Total Cost is equal to total cost divided by the number of goods produced (the output quantity, Q). It is also equal to the sum of average variable costs (total variable costs divided by Q) plus average fixed costs (total fixed costs divided by Q). Average costs may be dependent on the time period considered (increasing production may be expensive or impossible in the short term, for example). Average costs affect the supply curve and are a fundamental component of supply and demand.

- Mankiw, N. Gregory. "Chapter 13:The Various Measures of Cost."
*Principles of Microeconomics*. 6th ed. Mason, OH: Thomson/South-Western, 2004. 265-68. Print. - "Average Cost."
*Wikipedia*. Wikimedia Foundation, n.d. Web. 30 May 2015.