Intermediate Microeconomics Outline

Intermediate Microeconomics Course Outline Berkeley Requested   GOOD LUCK ON YOUR FINAL! Advertisements


Production and Cost Minimization <– Click the link above to access an explanation of cost minimization. Let y – firm’s output, TC(y) – total cost, ATC(y)= TC(y)/y – average total cost. Given TC = VC+FC – the sum of fixed and variable cost. And, it must be borne in mind – the short run differs from … Continue reading

Producer Theory

Short Run Cost Curves from Short Run Production:   The Firm’s Supply Curve from Marginal Cost:   Industry Supply Curves and the Role of Entry and Exit:   Relating Short Run and Long Run Cost curves:   Consumer and Producer Supply: