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rosewhite

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tT
发表于 2011-7-11 19:55 | 只看该作者

The curves related to AP, MP, AVC, MC, ATC, AFC

about, heart, second, related, remember
Do you guys have any tips to remember these 3 graphs that we are supposed to know by heart? The first one is about MP and AP, the second about AVC and MC and the third one about MC, ATC, AVC and AFC.

 

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ramdabom

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发表于 2011-7-11 19:55 | 只看该作者
I find it helpful to draw them out. I am still weak in this area but figure it's not worth the time right now to really focus on this area where only a question or 2 will be asked.

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chetan86

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发表于 2011-7-11 19:56 | 只看该作者
Thats essentially two graphs. AVC and MC are included on the third one you mentioned.

Draw this out a few times:

AFC is constant (flat)
AVC is U shaped
ATC is AVC + AFC

MC runs thru the lowest point of each (AVC + ATC)

Once you're able to memorize that, (MP, AP) and (MC, AVC) are mirror images of eachother.

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FVPV

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4#
发表于 2011-7-11 19:56 | 只看该作者
Yeah, and make sure you know how it looks for Monopoly v. Perfect Competition v. Monoploistic competition

I don't expect them to throw an Oligopoly or Monopsony Question related to the curves.

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