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