Income Expansion Path
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Price Expansion Path
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Total costs -
Total fixed costs TFC - .
Total variable costs TVC -
Marginal costs MC -
Average variable costs avc -
Average fixed costs -
Average total costs ATC -
Quantity -
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TC=TFC+T
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FC=TFC/Q;
AVC=TVC/Q;
ATC=TC/Q=(TFC+TVC)/Q= AFC+AVC
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Marginal Costs=deltaTVC/deltaQ
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