HEY! How are you doing econstudents!
This is Mr. Clifford
Welcome to AC-DC-ECON
In the previous video, I defined the types of costs:
Fixed cost, variable cost, total cost, and marginal cost.
You used the chart calculate each one of these and you also calculated the average cost curves:
average variable cost, average fixed cost, and average total cost.
If you haven't seen that video, make sure to go back because you gonna need that for gonna do right now.
Because right now, we gonna find out what these cost curves look like on the graph.
