'Average cost curve' diaporamas de présentation

Chapter 9: Production and Cost Analysis II

Chapter 9: Production and Cost Analysis II. Prepared by: Kevin Richter, Douglas College Charlene Richter, British Columbia Institute of Technology . Long Run Production Decisions. To make their long run decisions:

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Monopolistic Competition & Oligopoly

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Chapter 10

Chapter 10. Oligopoly and Monopolistic Competition. Behavior of Imperfect Competitors. Perfect Competition: Many firms produce an identical output. No firm can affect market price. Monopolistic competition: A large number of firms produce slightly differentiated products.

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Chapter 23

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Chapter 6 Production Costs

Chapter 6 Production Costs. Survey of Economics Irvin B. Tucker. Lecture Slides. 1. What is the purpose of this chapter?. The purpose of this chapter is to study production and its relationship to various types of costs. 2. What is a basic assumption in economics?.

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Course outline I

Course outline I. Introduction Game theory Price setting monopoly oligopoly Quantity setting monopoly oligopoly Process innovation. Homogeneous goods. Monopoly (quantity setting). Inverse demand function Revenues, costs, profits Profit maximizing quantity Basic model

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Short Run Costs

Short Run Costs. Part 2. The Costs of Production. There are many different types of costs. Invariably, firms believe costs are too high and try to lower them. Fixed Costs, Variable Costs, and Total Costs.

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Firm Theory: production functions, cost curves and profit maximization

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Cost and production

Cost and production. Firms maximize profits Types of costs and their relevance for decision making. Long run vs. short run Optimal choice between the inputs. Marginal product of labor. MP L = D Q/ D L Increase in total output associated with increase in labor

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What are firms goals?

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Trade Under Increasing Returns to Scale

Trade Under Increasing Returns to Scale. Udayan Roy http://myweb.liu.edu/~uroy/eco41 October 2008. Increasing returns to scale. The Ricardian and Heckscher-Ohlin theories both assume that the technology for the production of a good is characterized by constant returns to scale

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Monopoly

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Long Run Perfect Competition with Heterogeneous Firms Overheads

Long Run Perfect Competition with Heterogeneous Firms Overheads. Summary of Long Run Competitive Equilibrium. 1. In the long run, every competitive firm will earn normal profit, that is, zero profit.

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CH. 11: OUTPUT AND COSTS

CH. 11: OUTPUT AND COSTS. Measure of relationship between output and cost Short run costs Fixed vs variable Cost curves Law of diminishing marginal returns Long run costs No fixed costs Cost curves Returns to scale. Short run vs. Long run. The Short Run

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MANAGERIAL ECONOMICS An Analysis of Business Issues

MANAGERIAL ECONOMICS An Analysis of Business Issues. Howard Davies and Pun-Lee Lam Published by FT Prentice Hall. Chapter 20: Competition and Competition Policy. Objectives: After studying the chapter, you should understand: 1. the alternative concepts of competition and

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Natural Monopoly

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5 Minute Test (Starter)

5 Minute Test (Starter). Define Operations Management (2) What is flow production? (2) State one advantage of flow production (2) What are two terms used when workers perform small tasks that they become expert at? (2) What is lean production? (2) Name two lean production techniques (2).

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Monopoly

Monopoly. Some basic observations. What is a Monopoly?.

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