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Cost in the Short Run
Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total Cost (or ATC) is the cost per unit of output, or average fixed cost (or AFC) plus average variable cost (or AVC). This can be written: Average Total Cost (or ATC) is the cost per unit of output, or average fixed cost (or AFC) plus average variable cost (or AVC). This can be written:
Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at vary
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