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YouTubeJacob Clifford
Short-Run Costs (Part 1)- Micro Topic 3.2
In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe. Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet ...
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What do you think? Is my math too high or low? Here are ways that the cost of a custom made quilt could fluctuate… 📉 Some ways to reduce the cost: - smaller size quilt - lower quality / cheaper fabrics - less intricate piecing pattern that takes less time to piece - less intricate quilting job - learning how to quilt so you can make it yourself (arguably would end up being much more expensive 🤣) 📈Ways to raise the cost: - more intricate pattern - more costly, higher quality, rarer fabrics - m
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