Isoquants & Producer’s Equilibrium (BFM and BIM)
November 23, 2020
Market Structure (BIM and BFM)
November 24, 2020This presentation covers the following concepts:
- Costs
- Costs Concepts: Real and Money Cost, Private and Social Cost, Sunk and Incremental Cost, Accounting and Economic Cost, Opportunity Cost and Fixed, Variable and Total Cost, Average Cost, Marginal Cost
- Short-run Cost Behaviour
- Long-run Cost Behaviour: Derivation
