Economics A-Level
Average variable cost
What Average variable cost means in Economics A-Level, as defined for AQA.
Definition of Average variable cost
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Reference: AQA
The cost below which firms will shut down, so that only the portion of the marginal cost curve above it acts as the short-run supply curve.
Topics that use Average variable cost
- The determinants of the supply of goods and services (AQA A-Level)
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Using Average variable cost in the exam
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