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Material Type: Notes; Professor: Healy; Class: MICROECONOMICS; Subject: Economics; University: Harper College; Term: Unknown 1989;
Typology: Study notes
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REVIEW – Short Run Costs (Ch. 9) (a) How can you tell if these cost curves are for the short run or the long run? (b) What does the graph indicate about: (1) AVC at 6,000 units of output? (2) ATC at 6,000 units of output? (3) AFC at 6,000 units of output? (4) TVC at 6,000 units of output and show on graph?
(5) TFC at all levels of output and show on graph? (6) TC at 6,000 units of output and show on graph? (7) When do diminishing returns set in?
