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Card 6

Front

what is the shape of the AFC curve & why

Back

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Card 7

Front

what is the shape of the MC curve & why

Back

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Card 8

Front

cont.

Back

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Card 9

Front

what is the shape of the ATC curve & why?

Back

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Card 10

Front

explain the shape of the LRAC curve & why

Back

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Card 11

Front

when marginal>the average... / when marginal

Back

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Card 12

Front

describe the relationship between the MC & AVC curve

Back

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Card 13

Front

when marginal costs fall..... / when marginal costs begin to rise THE INCREASE OF TOTAL COST????

Back

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Card 14

Front

what is the relationship between Economies of scale, diseconomies of scale and Long run average cost curves

Back

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Card 15

Front

Describe the L-shaped Long run average cost curve

Back

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