Average cost

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Average cost

Total cost per unit of output = Total cost / output = TC/Q.

In the News Teaching Activity – Is the UK falling for fried chicken? (Feb 2026)

16th February 2026
In the News Teaching Activity – How did the festive period affect Next’s profits? (Jan 2026)

15th January 2026
In the News Teaching Activity – what are the benefits of Kingsmill buying up Hovis? (Sept 2025)

18th September 2025
Why Pints Are Hitting £5 - It's No Joke!

1st April 2025
In the News Teaching Activity – the Body Shop shuts down some of its UK stores (Feb 2024)

26th February 2024
4.1.4.4 Costs of production (AQA Economics)

Study Notes
3.3.2 Costs (Edexcel)

Study Notes
What are the differences between short run and long run costs?

Study Notes
3.3.2 Short Run Cost Curves (Edexcel A-Level Economics Teaching PowerPoint)

Teaching PowerPoints
4.1.4.4 Short Run Cost Curves (AQA A-Level Economics Teaching PowerPoint)

Teaching PowerPoints
Explaining Fixed and Variable Costs of Production

Study Notes
Warburtons battles soaring cost-push inflation

19th January 2023
Key Diagrams - Short Run Shut Down Price

Topic Videos
Key Diagrams - Long Run Average Cost (Economies and Diseconomies of Scale)

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Revenues, Costs and Profits (Revision Quizlet Activity)

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Short Run and Long Run Costs - Selection of Revision MCQs

Practice Exam Questions
How to Calculate Short Run Costs

Topic Videos
Analysis Diagram: AC, MC and AVC

Topic Videos
Average Cost MCQ Revision Question

Practice Exam Questions
Internal Economies of Scale

Study Notes
Short Run Costs - Law of Diminishing Returns (Online Lesson)

Online Lessons
Short Run Marginal & Average Cost Explained

Topic Videos
Theory of the Firm – Key Conditions and Formulae

Topic Videos
Test 1 - Edge in Economics Revision MC - Revenues and Costs

Topic Videos
Business Costs in the Short-Run

Teaching PowerPoints
Royal Mail - Factors Affecting Costs, Revenues and Profits

Study Notes
Test 17: MCQ Revision on Production and Cost for A Level Economics

Practice Exam Questions
Business Economics - 'Lockdown' activity

Quizzes & Activities
Advertising, Costs and Revenues (MCQ Revision Question)

Practice Exam Questions
Short Run Costs (Multiple Choice Revision)

Practice Exam Questions
Costs and Revenues - 'Match Up' activity

Quizzes & Activities
Average Cost Curves (MCQ Revision Question)

Practice Exam Questions
Theory of the Firm Diagrams - quick in-class revision tool

10th May 2016
Capital-labour substitution at Ford

15th October 2015

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Average cost

In the News Teaching Activity – Is the UK falling for fried chicken? (Feb 2026)

In the News Teaching Activity – How did the festive period affect Next’s profits? (Jan 2026)

In the News Teaching Activity – what are the benefits of Kingsmill buying up Hovis? (Sept 2025)

Why Pints Are Hitting £5 - It's No Joke!

In the News Teaching Activity – the Body Shop shuts down some of its UK stores (Feb 2024)

4.1.4.4 Costs of production (AQA Economics)

3.3.2 Costs (Edexcel)

What are the differences between short run and long run costs?

3.3.2 Short Run Cost Curves (Edexcel A-Level Economics Teaching PowerPoint)

4.1.4.4 Short Run Cost Curves (AQA A-Level Economics Teaching PowerPoint)

Explaining Fixed and Variable Costs of Production

Warburtons battles soaring cost-push inflation

Key Diagrams - Short Run Shut Down Price

Key Diagrams - Long Run Average Cost (Economies and Diseconomies of Scale)

Revenues, Costs and Profits (Revision Quizlet Activity)

Short Run and Long Run Costs - Selection of Revision MCQs

How to Calculate Short Run Costs

Analysis Diagram: AC, MC and AVC

Average Cost MCQ Revision Question

Internal Economies of Scale

Short Run Costs - Law of Diminishing Returns (Online Lesson)

Short Run Marginal & Average Cost Explained

Theory of the Firm – Key Conditions and Formulae

Test 1 - Edge in Economics Revision MC - Revenues and Costs

Business Costs in the Short-Run

Royal Mail - Factors Affecting Costs, Revenues and Profits

Test 17: MCQ Revision on Production and Cost for A Level Economics

Business Economics - 'Lockdown' activity

Advertising, Costs and Revenues (MCQ Revision Question)

Short Run Costs (Multiple Choice Revision)

Costs and Revenues - 'Match Up' activity

Average Cost Curves (MCQ Revision Question)

Theory of the Firm Diagrams - quick in-class revision tool

Capital-labour substitution at Ford

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Average cost