Based Flashcards
1
Q
Shut down price
A
This is the price at which the firm just covers its variable costs.
2
Q
Break even price
A
This is the price at which the firm just covers its total costs (both fixed and variable).
3
Q
SAC
A
STC/Q
4
Q
MC
A
STC’
5
Q
SAVC
A
STC*/Q
6
Q
Shut-down price
A
AVC = MC
7
Q
Break even price
A
ATC = MC
8
Q
A
