Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
• Definition
• A mathematical formula used to predict the
cost associated with a certain action or a
certain level of output.
• It is divided as short run cost and long run
cost
cost curves
• 1 Short-run average variable cost curve
(SRAVC)
• 2 Short-run average total cost curve (SRATC
or SRAC)
• 3 Long-run average cost curve (LRAC)
• 4 Short-run marginal cost curve (SRMC)
• 5 Long-run marginal cost curve (LRMC)
Total cost
Definition.
“ the sum of fixed costs, variable costs”.
variable cost