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 obtain the optimal point regarding production and income maximizing firms can use them to make a decision output quantities to attain those aims. There are many types of cost curves, all related together, including total in addition to average cost curve, and marginal cost curves, which are corresponding to the differential in the total cost curve.
More Post
Latest Post
-
Researchers Examine how Freshwater Diatoms remain in the Light
-
Wetting Current
-
Massive Ice Loss from the Greenland Glacier
-
Research Reveals a Way for Converting CO2 into Sustainable Fuel
-
Scientists Investigate Complicated Patterns of Tipping Points in the Atlantic’s Current System
-
Cathodic Modification