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Economics

What is the formulae used to find unit cost?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 10QP

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Question

What is the formulae used to find unit cost?

Expert Solution

Step 1

A unit cost is a net cost borne by a business to manufacture, store, and sell one unit of a product or service. Both fixed and variable costs associated with the manufacture of a good or service are included in this metric. Finding and measuring a company's unit costs is a simple way to see if it is effectively manufacturing a product.

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