Week 3: Production and Cost

Week 3: Production and Cost

“Production and Cost”
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Summaries

  • Week 3: Production and Cost > Production > Overview

Week 3: Production and Cost > Production > Overview

  • We have already talked about how markets work and we have talked about demand and supply.
  • From there, of course, we will go on to talk about costs and there we will look at various measures of costs like average cost or cost per unit and marginal cost which is usually approximated by incremental cost and we will see how productivity and costs are related.

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