Fixed/Variable/Total Costs and the Marginal Cost of Production Defined & Explained in One Minute
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YouTubeOne Minute Economics
Fixed/Variable/Total Costs and the Marginal Cost of Production Defined & Explained in One Minute
You can consider fixed, variable and total costs the foundation of microeconomics because, frankly, it's hard to envision an analysis in which you don't come across these terms. The same way, the marginal cost of production is yet another example of a term you need to understand if you're serious about economics in general and microeconomics in ...
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