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In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe. • Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet • Next video-drawing the cost curves •    • Short-Run Cost Curves (Part 2)- Micro...   • Watch Episodes of Econmovies- •    • EconMovies   • More videos about the costs of production- •    • Micro Unit 3: Production, Cost, and P...  

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