1) Now let's examine short run costs of golf cart production. The cost of 1 labourer is $2000. Total fixed cost is $3000 per month. With the given information complete the table and sketch TVC, AFC AND ATC Curve. recreate the table in your copy and do it. Q TFC TVC TC MC AFC AVC ATC 3000. 1 2000 4 7 4 15 5 19 21 7 24 8 28

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.