DictionaryToken Economics
Cost per Million Tokens (MTok)
The standard price tag for AI usage: how much one million tokens of text costs to send or receive.
Definition
Standard pricing unit for LLM APIs. For example, Claude Sonnet 5.5 costs $2/MTok input and $10/MTok output, with cache reads at $0.10/MTok. This metric allows comparison across providers and models.
Example
At $2/MTok input, a 50K-token prompt costs 50,000 / 1,000,000 x $2 = $0.10.