Unformatted text preview: Costs a. Total (TC) b. Fixed (FC) c. Variable (VC) d. Marginal (MC) e. Average i. Total (ATC) ii. Fixed (AFC) iii. Variable (AVC) f. Average/Marginal cost relationship g. Examples 3. Time a. Short run i. Definition b. Long run i. Definition III. NEXT TIME A. Begin Chapter 14: “Perfect Competition”...
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This note was uploaded on 05/12/2011 for the course ECON 2030 taught by Professor Bong during the Spring '07 term at LSU.
- Spring '07