Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Average variable cost
the average cost per unit of output, arrived at by dividing the total cost (fixed cost and variable cost) by output. Cf. Long-run incremental cost.
variable cost
The cost that varies in the short run in close relationship with changes in output. 2. (pl.) The charges or fees taxed by the court, such as filing fees, jury fees, courthouse fees, and reporter fees. - Also termed court costs. 3. (pl.) The expenses of litigation, prosecution, or other legal transaction, esp. those allowed in favor of one party against the other. - Also termed (in sense 3) litigation costs.