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MATCHING DEFINITION The cost of all the firm’s variable inputs.

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MATCHING DEFINITION

The cost of all the firm’s

variable inputs.

Accounting profit

Average fixed cost

Average product

Average total cost

Average variable cost

Constant returns to scale

Diminishing marginal returns

Diseconomies of scale

Economic depreciation

Economic profit

Economies

of scale

Entrepreneurship

Explicit costs

Firm

Forgone Interest

Implicit costs

Implicit rental rate

Law of diminishing returns

Long run

Long-run average cost curve

Marginal cost

Marginal product

Minimum efficient scale

Normal profit

Profit

Profit maximization

Short

run

Sunk cost

Total cost

Total economic cost

Total fixed cost

Total product

Total variable cost

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