Regulation 2 - Definitions - CCI (Determination Of Cost Of Production) Regulations, 2009

2. Definitions. (1) In these regulations, unless the context otherwise requires - (a) Act means the Competition Act, 2002 (12 of 2003); (b) average variable cost means total variable cost divided by total output during the referred period ; (c) Cost as used in Regulation 3 and its derivation may have reference to : i. total cost means the actual cost of production including items, such as cost of material consumed, direct wages and salaries, direct expenses, work overheads, quality control cost, research and development cost, packaging cost, finance and administrative overheads attributable to the product during the referred period ; ii. total variable cost means the total cost referred to in clause (i) minus the fixed cost and share of fixed overheads, if any, during the referred period; iii. total avoidable cost means the cost that could have been avoided if the enterprise had not produced the quantity of extra output during the referred period; iv. average avoidable cost is the total avoidable cost divided by the total output considered for estimating total avoidable cost ; v. long run average incremental cost is the increment to long run average cost on account of an additional unit of product, where long run cost includes both capital and operating costs; vi. market value means the consideration which the customer pays or agrees to pay for a product which is sold or provided or can be sold or provided, as the case may be; (d) Commission means the Competition Commission of India established under sub-section (1) of section 7 of the Act; (e) product means the goods or services, as the case may be, as defined in the Act; (f) marginal cost is the change in total cost that arises when the quantity produced changes by one unit. (2) Words and expressions used but not defined in these regulations shall have the same meaning respectively assigned to them in the Act or the Companies Act, 1956 (1 of 1956), as the case may be.