3 367 40 80 32 46 78 267 817 229 686 914 20 85 105 mc

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Unformatted text preview: g Fill in the Missing Numbers Fill Q 1 2 3 4 5 6 7 8 AFC AVC ATC 160 40 200 80 35 115 53.3 36.7 40 80 32 46 78 26.7 81.7 22.9 68.6 91.4 20 85 105 MC 30 40 50 100 150 200 TVC TFC 40 110 160 230 330 680 TC 200 230 270 390 490 640 Fill in the Missing Numbers Fill Q AFC AVC ATC MC TVC TFC 1 85 2 10 3 4 5 TC 10 20 50 32 AP AP 4 MP Falling Falling Falling Falling MP MP R2 ising Rising MP MP and and MP and MP and and rising rising falling falling rising rising MC: MC MC: MC MC Labour 0 1.5 MC: 2.0 falling falling rising rising rising rising 12 and AP AP AP AP AP AP and falling Maximum MP and Mand falling Maximum MP and and aximum AP Maximum AP and rising rising AVC AVC fallingC falling minimum MC M mAVC inimum AVC AVC 9 AVC AVC AVC Average product and marginal product Average product and marginal product 6 MC 6 AVC 3 0 6.5 10 Pizzas PRODUCT CURVES AND COST CURVES Shifts in the Cost Curves Shifts The position of a firm’s short-run cost curves depends on two factors: – technology – prices of resources Long-Run Cost Long-Run Long-run cost is the cost of production when a firm...
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This document was uploaded on 03/13/2014.

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