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Meaning of “unit cost” in the English Dictionary

"unit cost" in Business English

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unit costnoun [C]

uk   us   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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