'Costs 100' presentation slideshows

Lecture 11 Economic Propositions about Costs

Lecture 11 Economic Propositions about Costs. 1. The higher the selling price of a good, the greater the amount that producers will offer. (The Law of Supply) 2. Marginal costs (MC) determine the rate of output (supply curve).

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Determine whether the lines are parallel, intersect, or coincide.

A system of two linear equations in two variables represents two lines. The lines can be parallel, intersecting, or coinciding. Lines that coincide are the same line, but the equations may be written in different forms.

298 views • 6 slides

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