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7.5.2 short-run cost function
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Fixed, variable and total cost

Fixed, variable and total cost

In the short run, fixed cost does not change when output changes. Examples include rent and insurance, while variable cost changes with output, such as raw materials and wages for extra staff.

7.5.2 short-run cost function Lesson

  1. Intl A Level
  2. /Economics
  3. /7.5.2 short-run cost function

Step-by-step lessons on CIE Intl A Level Economics 7.5.2 short-run cost function. Each one builds up to exam-style questions.