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Short Run Cost Curves

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Topics

description

  • Total Fixed Cost (TFC)
  • Total Variable Cost (TVC)
  • Total Cost Curves (TCC)
  • Average Fixed Cost (AFC)
  • Average Variable Cost (AVC)
  • Average Total Cost (ATC) or Average Cost (AC)
  • Marginal Cost (MC)
  • The relationship between Average Cost and Marginal Cost
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