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Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
This displays the cost curve relationships for [...] in the short run.
Answer
ATC, AVC, and MC
Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
This displays the cost curve relationships for [...] in the short run.
Answer
?
Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
This displays the cost curve relationships for [...] in the short run.
Answer
ATC, AVC, and MC
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d MC in the short run. The marginal cost curve intersects both the ATC and AVC at their respective minimum points. This occurs at points S and T, which correspond to Q AVC and Q ATC , respectively. Mathematically, when <span>marginal cost is less than average variable cost, AVC will be decreasing . The opposite occurs when MC is greater than AVC. The same relationship holds true for MC and ATC . ATC declines when MC is less than ATC. ATC increases as MC exceeds ATC
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d MC in the short run. The marginal cost curve intersects both the ATC and AVC at their respective minimum points. This occurs at points S and T, which correspond to Q AVC and Q ATC , respectively. Mathematically, when <span>marginal cost is less than average variable cost, AVC will be decreasing . The opposite occurs when MC is greater than AVC. The same relationship holds true for MC and ATC . ATC declines when MC is less than ATC. ATC increases as MC exceeds ATC
Summary
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
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