Analysis of CE amplifier:
In a transistor amplifier, the dc source sets up quiescent current and voltages. The ac source then produces fluctuations in these current and voltages. The simplest way to analyze this circuit is to split the analysis in two parts: dc analysis and ac analysis. One can use superposition theorem for analysis .
AC & DC Equivalent Circuits:
For dc equivalent circuit, reduce all ac voltage sources to zero and open all ac current sources and open all capacitors. With this reduced circuit shown in fig. 3 dc current and voltages can be calculated.

Fig. 3
For ac equivalent circuits reduce dc voltage sources to zero and open current sources and short all capacitors. This circuit is used to calculate ac currents and voltage as shown in fig. 4.

Fig. 4
The total current in any branch is the sum of dc and ac currents through that branch. The total voltage across any branch is the sum of the dc voltage and ac voltage across that branch.
Phase Inversion:
Because of the fluctuation is base current; collector current and collector voltage also swings above and below the quiescent voltage. The ac output voltage is inverted with respect to the ac input voltage, meaning it is 180o out of phase with input.
During the positive half cycle base current increase, causing the collector current to increase. This produces a large voltage drop across the collector resistor; therefore, the voltage output decreases and negative half cycle of output voltage is obtained. Conversely, on the negative half cycle of input voltage less collector current flows and the voltage drop across the collector resistor decreases, and hence collector voltage increases we get the positive half cycle of output voltage as shown in fig. 5.

Fig. 5
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