'Long run average costs' diaporamas de présentation

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AP Economics

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Chapter 5

Chapter 5. COSTS AND PRODUCTIVITY. 1. Opportunity Costs. The correct measure of the costs of any action is what has been given up by taking that action instead of another. (Why accounting and law professors are paid more)

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Chapter 9

Chapter 9. Businesses and the Costs of Production. Economic Costs. Economic cost The payment that must be made to obtain and retain the services of a resource Explicit costs Monetary outlay Implicit costs Opportunity cost of using self-owned resources Includes a normal profit. LO1.

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Businesses and Their Costs

Businesses and Their Costs. 6. The Business Population. Plant Factory, farm, mine, store, website, warehouse Firm Operates one or more plants Industry Group of firms that produce the same products. LO1. Corporation Advantages. Stocks Ownership shares of a corporation Bonds

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Costs in the Long Run

Costs in the Long Run. Important to note the differences from the short run. Production in the Long run. All factors of production are variable in the long run The scale of production: returns to scale - output/input ratio constant returns to scale - output/input is constant

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Chapter 7 Economies of Scale and Scope

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Econ 201 Spring 2009 Lecture 6.1d

Econ 201 Spring 2009 Lecture 6.1d. Finishing Up Monopolies: Tie-in sales, predatory pricing and dumping. Take Home Problem. Are these reasonable examples of 2 nd degree price discrimination? The traditional end of season sale. Reduced prices for cinema and theatre in the afternoons.

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Econ 201 Spring 2009

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