Examlex
Define the following:halo effect
Total Fixed Cost
The sum of all costs that remain constant regardless of the level of production or output.
Total Revenue
The overall amount of money generated by a firm from its sales activities before any expenses are subtracted.
Marginal Cost Curve
It illustrates the change in total cost that arises when the quantity produced is incremented by one unit; this is the cost of producing one additional unit of a good.
Short-Run Supply
The supply provided by firms in the short term when at least one input, usually capital, is fixed.
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