short run cost
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Last updated 12:50 PM on 7/8/25
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5 Terms
1
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Fixed cost (overhead costs)
Costs that do not fluctuate with the level of production or sales. Examples include rent, insurance, and salaries.
2
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Variable cost(running costs)
are costs that vary with the level of production
3
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TOTal cost
Tvc+Tfc
4
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AFC and AVC
TFC/Q and TVC /Q
5
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AC OR ATC
TFC +TVC/Q OR AFC+AVC
Note 
Flashcards (114)