Author: Hartini Ab Ghani | Published on: 28 February, 2019 Page: 19-28
Abstract
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 optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve; and profit maximizing firms use cost curves to decide output quantities. There are various types of cost curves, all related to each other, including total and average cost curves; marginal ("for each additional unit") cost curves, which are equal to the differential of the total cost curves; and variable cost curves. Some are applicable to the short run, others to the long run.
Keywords
Cost Curve; Variations; Relation of Different Curves; Marginal Cost.
Cite this Article
Ghani, H., B. (2019), Different Variations of Cost Curve in Economics. International Journal of Tax Economics and Management, 2(6), 19-28.
Ghani, H., B. (2019) "Different Variations of Cost Curve in Economics", International Journal of Tax Economics and Management, 2(6), pp.19-28.
Ghani, H., B.. Different Variations of Cost Curve in Economics. International Journal of Tax Economics and Management. 2019; 2(6): 19-28.
Appeared
Appeared
Ghani, H., B.. Different Variations of Cost Curve in Economics. International Journal of Tax Economics and Management. 2019; 2(6): 19-28.
Ghani, H., B.. Different Variations of Cost Curve in Economics. International Journal of Tax Economics and Management. 2019; 2(6): 19-28.
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Citation Format
AK., A. (2018), Sociologic Factors and Social Structure in Preparation of Tax Acts and The Assessment of Personal Income Tax in Terms Of Suitability to Social Structure. International Journal of Tax Economics and Management, 1(1), 22-36.