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image (Average Cost Curve (AVC (Diminishing Marginal Returns), AFC -->…
Average Cost Curve
AVC
Diminishing Marginal Returns
AFC --> 0
ATC --> AVC
ATC --> :arrow_upper_right:
SR&LR Cost Curve
Marginal Cost Curve
:small_red_triangle: VC
:small_red_triangle: Output
1/MP1
Input needed
Output needed
Total Cost Curve
F
Fixed Cost Curve
F
Variable Cost Curve
Cv(Y)
Reading
20&21
Qs
Slide 53
Slide 56
Slide 64 wenta tal3
