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Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit of a good changes as the production volume is increased.
Short-Run Supply
The total quantity of goods and services that producers are willing and able to sell at a given price in the short term, considering some inputs as fixed.
U-Shaped
Describes the shape of certain graphs, such as average cost curves in economics, indicating a period of declining costs followed by increasing costs as output rises.
Short-Run Cost Curve
A graph showing the relationship between the cost of producing goods and the output level in the short term, when at least one input is fixed.
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