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ECON TEST #3

QuestionAnswer
Fixed Costs + Variable Cost = Total cost
Total Cost/Quantity = Average Total Cost
Fixed Cost/Quantity = Average Fixed Cost
Average Fixed Cost + Average Variable Cost Average Total Cost
Δ (change) Total Cost/ Δ (change) Quantity Marginal Cost
Total Revenue − Explicit Costs Accounting Profit
Total Revenue − (Explicit Costs + Implicit Costs) Economic Profit
Created by: user-1971083
 

 



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