Chapter 8: Micro Flashcards
1
Q
Average fixed cost
A
193
2
Q
Average product of labor
A
195
3
Q
Average total cost
A
193
4
Q
Average variable cost
A
193
5
Q
Breakeven point
A
202
6
Q
Constant returns to scale
A
211
7
Q
Diseconomies of scale
A
211
8
Q
Economies of scale
A
211
9
Q
Fixed costs
A
189
10
Q
Long run
A
190
11
Q
Long-run average total cost curve
A
208
12
Q
Marginal cost
A
192
13
Q
Minimum efficient scale
A
212
14
Q
Production function
A
194
15
Q
Short run
A
190
