Short-Run Average Cost
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MONASH Marketing Dictionary
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Short-Run Average Cost
the average cost per unit of production of a set or group of products in the short term. Note that in the long term, the average cost may be lower due to the effect of experience. See
Average Cost
;
Long-Run Average Cost
.
2004 (c) Copyright & Reprint Courtesy of the Dept. of Marketing,
Faculty of Business and Economics
, Monash University; edited by Mr. Don Bradmore.
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