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long run marginal cost

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  • Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… …   Wikipedia

  • Long-run — In economic models, the long run time frame assumes no fixed factors of production. Firms can enter or leave the marketplace, and the cost (and availability) of land, labor, raw materials, and capital goods can be assumed to vary. In contrast, in …   Wikipedia

  • Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

  • Cost-plus pricing — is a pricing method used by companies to maximize their profits. The firms accomplish their objective of profit maximization by increasing their production until marginal revenue equals marginal cost, and then charging a price which is determined …   Wikipedia

  • Cost-Volume-Profit Analysis — Cost Volume profit (CVP), in managerial economics is a form of cost accounting. It is a simplified model, useful for elementary instruction and for short run decisions. Cost volume profit (CVP) analysis expands the use of information provided by… …   Wikipedia

  • Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • Cost-of-production theory of value — In economics, the cost of production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can compose any of the factors of production… …   Wikipedia

  • Average cost — In economics, average cost is equal to total cost divided by the number of goods produced (the output quantity, Q). It is also equal to the sum of average variable costs (total variable costs divided by Q) plus average fixed costs (total fixed… …   Wikipedia

  • Short-run — In economics, the concept of the short run refers to the decision making time frame of a firm in which at least one factor of production is fixed. Costs which are fixed in the short run have no impact on a firms decisions. For example a firm can… …   Wikipedia

  • production, theory of — ▪ economics Introduction       in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …   Universalium

  • Feed-in tariff — Part of a series on Green economics Concepts …   Wikipedia

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