Cost in the short run, Microeconomics

Assignment Help:

Cost in the Short Run

Marginal Cost (or MC) is the cost of expanding output by one unit.  As fixed costs have no impact on marginal cost, it can be given as:
1068_cost in short run.png

Average Total Cost (or ATC) is the cost per unit of output, or average fixed cost (or AFC) plus average variable cost (or AVC). This can be written:

671_cost in short run1.png

Average Total Cost (or ATC) is the cost per unit of output, or average fixed cost (or AFC) plus average variable cost (or AVC). This can be written:

1291_cost in short run2.png


Related Discussions:- Cost in the short run

Demand, factors influencing the conditions of demand for a given product

factors influencing the conditions of demand for a given product

Explain features of outward-oriented and inward-oriented, The main features...

The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier

Cost, relationship between tfc , tvc , tc

relationship between tfc , tvc , tc

Transition economies, Former communist economies which is, with varying deg...

Former communist economies which is, with varying degrees of enthusiasm and have embraced CAPITALISM.

Industry''s long-run supply curve, The Industry's Long-Run Supply Curve ...

The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply   1) Constant-cost industry Long run supply is horizontal Small increase in price will induc

Production possibility frontier ppf, Production possibility frontier PPF is...

Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.

International development association, International development associatio...

International development association: Part of the challenge entails reorienting surveillance, the process through which the BW institutions policy advice is delivered, to mak

Critique of economic reforms, CRITIQUE OF ECONOMIC REFORMS: The critiq...

CRITIQUE OF ECONOMIC REFORMS: The critique of economic reforms should consider the actual growth rate achieved, its impact on employment and poverty reduction, its impact on l

Consumer equilibrim, explain consumer equilibrium diagrammatically as well ...

explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd