Chapter 8: Micro Flashcards by silence 72

Q

Average fixed cost

A

193

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Q

Average product of labor

A

195

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Q

Average total cost

A

193

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Q

Average variable cost

A

193

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Q

Breakeven point

A

202

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Q

Constant returns to scale

A

211

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Q

Diseconomies of scale

A

211

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Q

Economies of scale

A

211

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Q

Fixed costs

A

189

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Q

Long run

A

190

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Q

Long-run average total cost curve

A

208

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Q

Marginal cost

A

192

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Q

Minimum efficient scale

A

212

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Q

Production function

A

194

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Q

Short run

A

190

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Q

Shutdown point

Study These Flashcards

A

204

Q

Total costs

Study These Flashcards

A

189

Q

Variable costs

Study These Flashcards

A

189