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We define average cost as total cost divided by the quantity of output produced.. do not change regardless of the level of production, at least not in the short term.. variable cost, since producing a greater quantity of a good or service typically.
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Shortrun aggregate supply curve.The shortrun aggregate supply (sas) curve is considered a valid description of the supply schedule of the economy only in the shortrun. The shortrun is the period that begins immediately after an increase in the price level and that ends when input prices have increased in the same proportion to the increase in the price level.
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Reliability is defined as the probability that a product, system, or service will perform its intended function adequately for a specified period of time, or will operate.
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