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Lrac curve - PowerPoint PPT Presentation

Today

Today

Today. Shifts in MC, ATC, and AVC curves. Production and cost in the long run. Shifting the Short Run Cost Curves of the Firm. They shift when: The price of an input changes. There is a change in the level of the fixed inputs (a change in plant size).

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445 views • 30 slides
Today

Today

Today. Shifts in MC, ATC, and AVC curves. Production and cost in the long run. Shifting the Short Run Cost Curves of the Firm. They shift when: The price of an input changes. There is a change in the level of the fixed inputs (a change in plant size).

★ ★ ★ ★ ★

304 views • 30 slides
The Theory of the Firm COSTS, REVENUES AND PROFIT (Part 2)

The Theory of the Firm COSTS, REVENUES AND PROFIT (Part 2)

The Theory of the Firm COSTS, REVENUES AND PROFIT (Part 2). BLINK & DORTON, (2007) p73-94. TYPES OF COSTS. There are three main types of costs: Total Costs (TFC/TVC/TC) Average Costs (AFC/AVC/ATC) Marginal Cost (MC).

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441 views • 28 slides
ECON 101 MIDTERM 2

ECON 101 MIDTERM 2

ECON 101 MIDTERM 2. Agenda. Chapter 8: Utility and Demand Chapter 9: Possibilities, Preferences, and Choices Chapter 11: Output and Costs. Chapter 8. Definitions: Utility: The benefit that a person gets from the consumption of a good or service

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488 views • 27 slides
ECO 610: Lecture 4

ECO 610: Lecture 4

ECO 610: Lecture 4. Horizontal Boundaries of the Firm. Horizontal Boundaries of the Firm: Outline. Long-run average cost (LRAC) curve Shape of the LRAC: economies and diseconomies of scale Optimal plant size: minimum efficient scale (MES) MES, market demand, and market structure

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384 views • 25 slides

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