Short-run marginal cost is the rate of change of short-run total cost as the level of output changes in the short run.
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Q21: Short-run marginal cost is the rate of
Q22: If the marginal product of a variable
Q23: If the average productivity of the variable
Q24: Short-run average total cost is equal to
Q25: Costs of the firm for which explicit
Q27: Total fixed cost is the private economic
Q28: Economies of scale reduce long-run average costs.
Q29: Short-run total cost includes all of the
Q30: Diseconomies of scale increase long-run average costs.
Q31: Total fixed cost is the sum of
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