Examlex
If you discovered a planet orbiting another star,and the planet had an orbital period of 2 years and a semimajor axis of 1 AU,what would be the mass of its parent star? You can assume the planet's mass is much less than the star's mass.
AVC
Average Variable Cost, the per unit cost of variable inputs divided by the total output produced, indicating the variable cost for each unit of output.
ATC
Stands for Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.
Short Run
A period in economics during which some factors of production are fixed, making it impossible for a business to change major production facilities.
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced; it decreases as production increases.
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