100+ Short run cost curve PowerPoint (PPT) Presentations, Short run cost curve PPTs

Short run cost curve - PowerPoint PPT Presentation

Monopoly

Monopoly. Maximize Profit Condition. A Monopolistic maximizes profit by producing quantity Q * where marginal revenue equals marginal cost. MR ( Q * ) = MC ( Q * ). P. P. D. P 1. D. Q 1. Q 1 +1. Q. Q 1. Q 1 +1. Q. Marginal Revenue. 2. 1. Marginal Revenue. Average Revenue.

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524 views • 52 slides

Production and Cost Analysis II

Production and Cost Analysis II. Chapter 10. Making Long-Run Production Decisions. To make their long-run decisions, firms look at costs of various inputs and the various production technologies available for combining these inputs, and then decide which combination offers the lowest cost.

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970 views • 29 slides

LONG-RUN COSTS

LONG-RUN COSTS. In the long-run there are no fixed inputs, and therefore no fixed costs. All costs are variable. Another way to look at the long-run is that in the long-run a firm can choose any amount of fixed costs it wants for making short-run decisions. The Long-run Average Cost Curve.

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468 views • 14 slides

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Short run cost curve - PowerPoint PPT Presentation

Monopoly

Production and Cost Analysis II

LONG-RUN COSTS