AVERAGE VARIABLE COST CURVE: A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run production of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one the three average curves. The other two are average total cost curve and average fixed cost curve.

     See also | curve | average variable cost | short-run production | quantity | technology | resource prices | average total cost curve | marginal cost curve | average fixed cost curve | law of diminishing marginal returns | average-marginal rule | U-shaped cost curves |

AVERAGE VARIABLE COST CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 31, 2023].

Additional information on this term can be found at:

WEB*pedia: average variable cost curve

Back to the GLOSS*arama

Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time at a garage sale trying to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for vindictive digital clocks with revenge on their minds.
Your Complete Scope

This isn't me! What am I?

-- President Ronald Reagan

User Feedback