Key Terms

Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.

Question

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Production function, p. 182

Fixed input, p. 182

Variable input, p. 182

Long run, p. 182

Short run, p. 182

Total product curve, p. 182

Marginal product, p. 183

Diminishing returns to an input, p. 184

Fixed cost, p. 186

Variable cost, p. 186

Total cost, p. 186

Total cost curve, p. 187

Marginal cost, p. 189

Average total cost, p. 191

Average cost, p. 191

U-shaped average total cost curve, p. 192

Average fixed cost, p. 192

Average variable cost, p. 192

Minimum-cost output, p. 194

Long-run average total cost curve, p. 199

Increasing returns to scale, p. 200

Decreasing returns to scale, p. 200

Constant returns to scale, p. 201

Network externalities, p. 201