Production Costs (fixed and variable) Average and Marginal

Explore the relationship between fixed costs, variable costs, total cost, marginal cost, average cost, average fixed cost, and average total cost. The underlying assumption is that Total cost is a cubic which is an easy way to ensure the rest are "U-shaped".

 

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Resource Type
Activity
Tags
average  cost  costs  economics  fixed  marginal  microeconomics  revenue  variable 
Target Group (Age)
15 – 18
Language
English (United Kingdom)
 
 
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