Keyword: AFC
A Matter of Costs (9/11/2007)
The rate at which variable cost changes in the short run is related to the nature of the fixed cost.
Keywords: AFC, ATC, AVC, average fixed cost, average total cost, average variable cost, capacity constraint, diminishing returns, efficiency maximization, increasing returns, marginal cost, MC, power generation, profit maximization
Cost Glossary - Notes (2/8/2013)
A glossary of terms in short-run production and cost
Keywords: 1/MP, AFC, ATC, AVC, inflection point, MC, MP, TC, TFC, TO, TVC, TVI, variable input
Marginal Cost, Average Variable Cost and Average Fixed Cost (11/2/2011)
Marginal cost, average variable cost and average fixed cost can be derived from a short-run production function subject to the law of diminishing returns.
Keywords: AFC, AVC, average fixed cost, average variable cost, law of diminishing returns, marginal cost, MC
Marginal Cost, Average Variable Cost and Average Fixed Cost (transcript) (1/29/2012)
Marginal cost, average variable cost and average fixed cost can be derived from a short-run production function subject to the law of diminishing returns.
Keywords: AFC, AVC, average fixed cost, average variable cost, law of diminishing returns, marginal cost, MC