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English definition of “unit cost”

unit cost

noun [C]
 
 
ACCOUNTING, PRODUCTION
the cost of producing one single product, calculated by dividing the cost of producing a group of products by the number produced: Average unit costs for SMEs have risen for the 18th quarter in succession. higher/lower unit costsreduce/cut unit costs Firms can still cut their unit costs by expanding their markets.
(Definition of unit cost from the Cambridge Business English Dictionary © Cambridge University Press)
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