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Unformatted text preview: Variable (VC) d. Marginal (MC) e. Average i. Total (ATC) ii. Fixed (AFC) iii. Variable (AVC) f. Average-Marginal Cost relationship g. Examples 4. Time a. Short run i. Definition b. Long run i. Definition 5. Returns to scale a. Economies of scale b. Diseconomies of scale c. Constant returns to scale III: NEXT TIME A. Begin Chapter 9: Perfect Competition...
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This note was uploaded on 07/31/2008 for the course ECON 2035 taught by Professor Stahl during the Spring '08 term at LSU.
- Spring '08