'Total fixed cost tfc' diaporamas de présentation

PRODUCTION AND COST

PRODUCTION AND COST. Hellen A. Seshie -Nasser. The Firm. The firm is the agent in the economy that makes decisions about production. It constitutes the economic entity which combines the factors of production in a process to produce goods and services for consumption.

512 views • 50 slides

Eco 6351 Economics for Managers Chapter 5. Supply Decisions

Eco 6351 Economics for Managers Chapter 5. Supply Decisions. Prof. Vera Adamchik. The basic activity of a firm is to use inputs , such as workers, machines, and natural resources to produce outputs of goods and services.

507 views • 34 slides

Theory of the Firm

Theory of the Firm. Types of costs. Total costs: Total costs are the complete costs of producing output. We use three measures: Total fixed cost Total variable cost Total Cost. Total fixed cost (TFC):.

439 views • 30 slides

Managerial Economics in a Global Economy

Managerial Economics in a Global Economy. Chapter 7 Cost Theory and Estimation. The Nature of Costs Explicit Costs Accounting Costs: actual expenditures on resources Economic Costs Implicit Costs: returns on inputs owned by the firm

656 views • 26 slides

Learning Objectives

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Economic Analysis for Managers (ECO 501) Fall:2012 Semester

Economic Analysis for Managers (ECO 501) Fall:2012 Semester. Khurrum S. Mughal. Theme of the Lecture. Cost Theory & Analysis Economic Concept of Cost Short-Run Cost Function Profit Contribution Analysis Breakeven Analysis Operating Leverage. Economic Concept of Cost.

564 views • 23 slides

Managerial Economics in a Global Economy

Managerial Economics in a Global Economy. Chapter 7 Cost Theory and Estimation. The Nature of Costs. Explicit Costs Accounting Costs Economic Costs Implicit Costs Alternative or Opportunity Costs Relevant Costs Incremental Costs Sunk Costs are Irrelevant. Short-Run Cost Functions.

511 views • 23 slides

Production and Inventory Management

Chapter 11. Production and Inventory Management. Why It Is Important to Understand the Cost Relationships in Production and Inventory Management. They affect the economic efficiency (profits) of the firm.

408 views • 22 slides

Objectives of chapter 4: Understand the notion of economic cost

Chapter 4: The Costs of Production. Objectives of chapter 4: Understand the notion of economic cost The short-run production relationship The short-run production costs The long-run production costs. Introduction.

250 views • 17 slides

The Nature of Costs

The Nature of Costs. Explicit Costs Accounting Costs Economic Costs Implicit Costs Alternative or Opportunity Costs Relevant Costs Incremental Costs Sunk Costs are Irrelevant. Short-Run Cost Functions. Total Cost = TC = f(Q) Total Fixed Cost = TFC Total Variable Cost = TVC

329 views • 16 slides

ECN 201: Principle of Microeconomics Nusrat Jahan Lecture 6

ECN 201: Principle of Microeconomics Nusrat Jahan Lecture 6. Producer Theory. Production Function. Production Function The relationship between the input required and the amount of output that can be obtained is called the production function .

210 views • 10 slides

Short-Run Cost Functions

Short-Run Cost Functions. Total Cost = TC = f(Q) Total Fixed Cost = TFC Total Variable Cost = TVC TC = TFC + TVC. Short-Run Cost Functions. Average Total Cost = ATC = TC/Q Average Fixed Cost = AFC = TFC/Q Average Variable Cost = AVC = TVC/Q ATC = AFC + AVC

300 views • 9 slides