![Basic Concepts of Production Theory ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recomendados
Mais conteúdo relacionado
Mais procurados
Mais procurados (18)
Destaque
Destaque (12)
Semelhante a Chapter 8 Production Costs
Semelhante a Chapter 8 Production Costs (20)
Último
Último (20)
Chapter 8 Production Costs
- 1. Chapter 8 Production & Cost in the Short Run
- 7. Total, Average, & Marginal Products of Labor, K = 2 (Table 8.2) -- 55 51.6 52 56 56.7 47.7 43.4 39.3 35.3 31.4 -- 50 38 52 60 58 28 18 10 4 -4 Number of workers (L) Total product (Q) Average product (AP=Q/L) Marginal product (MP= Q/ L) 0 0 1 52 2 112 3 170 4 220 5 258 6 286 7 304 8 314 9 318 10 314
- 8. Total, Average & Marginal Products, K = 2 (Figure 8.1)
- 9. Total, Average & Marginal Product Curves Panel A Panel B Total product Average product Marginal product Q 1 L 1 L 1 L 2 Q 2 L 2 L 0 Q 0 L 0
- 11. Short-Run Total Cost Schedules (Table 8.4) $ 0 14,000 22,000 4,000 6,000 9,000 34,000 $ 6,000 20,000 28,000 10,000 12,000 15,000 40,000 Output (Q) Total fixed cost (TFC) Total variable cost (TVC) Total Cost (TC=TFC+TVC) 0 $6,000 100 6,000 200 6,000 300 6,000 400 6,000 500 6,000 600 6,000
- 12. Total Cost Curves (Figure 8.3)
- 13. Average Costs • • •
- 15. Average & Marginal Cost Schedules (Table 8.5) -- 15 12 $60 30 20 10 -- 35 44 $40 30 30 56.7 -- 50 56 $100 60 50 66.7 -- 50 80 $40 20 30 120 Output (Q) Average fixed cost (AFC=TFC/Q) Average variable cost (AVC=TVC/Q) Average total cost (ATC=TC/Q= AFC+AVC) Short-run marginal cost (SMC= TC/ Q) 0 100 200 300 400 500 600
- 16. Average & Marginal Cost Curves (Figure 8.3)
- 17. Short Run Average & Marginal Cost Curves (Figure 8.5)
- 21. Short-Run Production & Cost Relations (Figure 8.6)