'Long run average cost' presentation slideshows

Costs and supply. Perfect competition

1.14k views • 88 slides

Module 15

Module 15. Costs in the Long Run. 1. Objectives:. Define long run average cost. Objectives:. Define long run average cost. Understand how to construct the long run average cost curve. 3. Objectives:. Define long run average cost.

623 views • 43 slides

Long-Run Costs and Output Decisions

Long-Run Costs and Output Decisions. Appendix: External Economies and Diseconomies and the Long-Run Industry Supply Curve. Prepared by: Fernando Quijano and Yvonn Quijano. Short-Run Conditions and Long-Run Directions. Profit is the difference between total revenue and total economic cost.

589 views • 38 slides

Long-Run Costs and Output Decisions

Long-Run Costs and Output Decisions. Appendix: External Economies and Diseconomies and the Long-Run Industry Supply Curve. Prepared by: Fernando Quijano and Yvonn Quijano. Short-Run Conditions and Long-Run Directions. Profit is the difference between total revenue and total economic cost.

662 views • 38 slides

ECON

Micro. ECON. McEachern 2008-2009. 10. CHAPTER. Monopolistic Competition and Oligopoly. Designed by Amy McGuire, B-books, Ltd. Monopolistic Competition. Characteristics Many producers Low barriers to entry Slightly different products

459 views • 33 slides

Long-Run Costs and Output Decisions

Long-Run Costs and Output Decisions. Short-Run Conditions and Long-Run Directions. In the long-run The firm has no fixed factor of production. Firms are free to enter and exit industries. Normal rate of return is a rate that is just sufficient to keep investors satisfied.

512 views • 32 slides

Creating Competitive Advantage

Creating Competitive Advantage. Ghemawat, Chapter Three Notes. ROE-Ke Spread. 40%. Great Northern Iron. 30%. 20%. Worthington Inds. Nucor. Steel Technologies. 10%. Oregon Mills. Commercial Metals. 0%. Carpenter. British Steel PLC. Cleveland-Cliffs. Birmingham. Quanex. Lukens.

627 views • 30 slides

Chapter 9

Chapter 9. Production & Cost in the Long Run. Production Isoquants. In the long run, all inputs are variable & isoquants are used to study production decisions An isoquant is a curve showing all possible input combinations capable of producing a given level of output

615 views • 26 slides

Chapter 9

Chapter 9. Production & Cost in the Long Run. Production Isoquants. In the long run, all inputs are variable & isoquants are used to study production decisions An isoquant is a curve showing all possible input combinations capable of producing a given level of output

274 views • 26 slides

Part 5 The Theory of Production and Cost

Part 5 The Theory of Production and Cost. Production normally organized in Firms A Firm hires inputs, organizes production, and sells goods or services A firm is a governance structure that can range from simple to highly complex (sole owner to large multi-nation corporation)

1.3k views • 23 slides

Production and Supply

Production and Supply. MANEC 387 Economics of Strategy. David J. Bryce. The Structure of Industries. Threat of new Entrants. Competitive Rivalry. Bargaining Power of Suppliers. Bargaining Power of Customers. Threat of Substitutes.

293 views • 19 slides

Production and Supply

Production and Supply. MANEC 387 Economics of Strategy. David J. Bryce. The Structure of Industries. Threat of new Entrants. Competitive Rivalry. Bargaining Power of Suppliers. Bargaining Power of Customers. Threat of Substitutes.

432 views • 19 slides

Analyzing Costs mikroekonomi.wordpress/

Analyzing Costs http://mikroekonomi.wordpress.com/. Long Run Total Cost Curve. Long run total cost curve: a curve that shows how total cost varies with output, holding input prices fixed, and choosing all inputs to minimize cost. Figure 8.1. Page 261.

295 views • 17 slides

Analyzing Costs mikroekonomi.wordpress/

Analyzing Costs http://mikroekonomi.wordpress.com/. Long Run Total Cost Curve. Long run total cost curve: a curve that shows how total cost varies with output, holding input prices fixed, and choosing all inputs to minimize cost. Figure 8.1. Page 261.

188 views • 17 slides

Theory of Cost

Theory of Cost. Concepts of Cost.

504 views • 15 slides

Chapter 8: Economics of Big Business

Chapter 8: Economics of Big Business. Market Structure. Perfect Competition Monopolistic Competition Oligapoly Monopoly. Degree of Market Power. Concentration Ratio percentage of the market sale by the largest four (or eight) firms CR > 0.70 indicates significant market power.

144 views • 13 slides

Economies of Scale and Profits

Economies of Scale and Profits. How reductions in long run average cost can lead to lower prices and higher profits. Economies of Scale and Profits. Price and cost. LRMC. LRAC. Output. Economies of Scale and Profits. Price and cost. P1. LRMC. C1. LRAC. AR. MR. Q1. Output.

212 views • 4 slides