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  1. Intl A Level
  3. Economics CIE

Economics

Economics cover artwork
  1. Intl A Level
  3. Economics CIE
  5. 7.5.2 short-run cost function

7.5.2 short-run cost function

Spec 9708

Revise CIE Intl A Level Economics 7.5.2 short-run cost function with the lessons, revision guides, and flashcards.

short-run cost function: • definition and calculation of fixed costs (FC) and variable costs (VC) • definition and calculation of total, average and marginal costs (TC, AC, MC), including average total cost (ATC), total and average fixed costs (TFC, AFC) and total and average variable costs (TVC, AVC) • explanation of shape of short-run average cost and marginal cost curves

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