Study all terms and memorize EVERYTHING
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Short Run (SR) | show 🗑
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| show | A period during which all resources are variable.
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| show | FC + VC
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| Fixed Cost (FC) | show 🗑
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| Variable Cost (VC) | show 🗑
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| Marginal Cost | show 🗑
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| Increasing marginal returns to variable input | show 🗑
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| show | IF MC is lower than the average costs, average costs will be decreasing
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| explicit costs | show 🗑
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| accounting profit | show 🗑
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| show | TR - (Explicit + Implicit costs)
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| show | 0 Econ. Profit
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| A firm with Zero econ profit will NOT | show 🗑
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| Marginal Product (MP) (of labor) | show 🗑
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| Law of Diminishing Marginal Returns | show 🗑
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| show 🗑
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
emilia2004
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