Keyword: total cost
Marginal Cost and Average Total Cost (11/2/2011)
Marginal cost and average total cost can be derived from the short-run total cost subject to the law of diminishing returns.
Keywords: ATC, average total cost, law of diminishing returns, marginal cost, MC, TC, total cost
Marginal Cost and Average Total Cost (transcript) (1/29/2012)
Marginal cost and average total cost can be derived from the short-run total cost subject to the law of diminishing returns.
Keywords: ATC, average total cost, law of diminishing returns, marginal cost, MC, TC, total cost
Profit Maximization - Total vs Marginal (11/17/2007)
Profit maximization can be characterized with reference to the total revenue and total cost curves or the marginal revenue and marginal cost curves
Keywords: fixed cost, marginal cost, marginal revenue, profit maximization, total cost, total revenue, variable cost