Hi everyone in this video I look at understanding the firm’s short-run cost curves, so both identifying the curves and understanding their shape. This is a pretty long one, so for those wanting more content rather than less.

I address Total Costs (TC), Variable Costs (VC), Fixed Costs (FC), Marginal Costs (MC), Average Total Costs (ATC), Average Variable Costs (AVC) and Average Fixed Costs (AFC).

I skip explaining why MC intersects ATC and AVC at their minimum. I do have a video on this, it is here: [ Ссылка ]

Timestamps:

0:00 Introduction
0:27 Total, Fixed and Variable Costs
2:59 Explaining the Slopes of Total Cost Curve
6:28 Marginal Cost
8:30 Average Variable Costs
10:34 Average Fixed Costs

Hope you guys are doing well!! xo

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