微观经济学TheCostofProduction教材.ppt

Chapter 7;Topics to be Discussed;Measuring Cost:Which Costs Matter?;Measuring Cost:Which Costs Matter?;Measuring Cost:Which Costs Matter?;Opportunity Cost;Opportunity Cost;Measuring Cost:Which Costs Matter?;Sunk Cost;Fixed and Variable Costs;Fixed and Variable Costs;Fixed Cost Versus Sunk Cost;Measuring Cost:Which Costs Matter?;Marginal and Average Cost;Measuring Costs;Measuring Costs;Measuring Costs;A Firm’s Short Run Costs;Determinants of Short Run Costs;Determinants of Short Run Costs;Determinants of Short Run Costs – An Example;Determinants of Short Run Costs – An Example;Determinants of Short Run Costs – An Example;Determinants of Short Run Costs;Cost Curves;Cost Curves for a Firm;Cost Curves;Cost Curves;Cost Curves for a Firm;Cost in the Long Run;Cost in the Long Run;Cost in the Long Run;User Cost of Capital;Cost in the Long Run;Cost in the Long Run;Cost Minimizing Input Choice;Cost in the Long Run;Cost in the Long Run;Choosing Inputs ;Producing a Given Output at Minimum Cost;Input Substitution When an Input Price Change;Input Substitution When an Input Price Change;Cost in the Long Run;Cost in the Long Run;Cost in the Long Run;Cost in the Long Run;A Firm’s Expansion Path;Expansion Path and Long Run Costs;A Firm’s Long Run Total Cost Curve;Long Run Versus Short Run Cost Curves;Capital is fixed at K1. To produce q1, min cost at K1,L1. If increase output to Q2, min cost is K1 and L3 in short run.;Long Run VersusShort Run Cost Curves;Long Run Versus Short Run Cost Curves;Long Run Versus Short Run Cost Curves;Long Run Versus Short Run Cost Curves;Long Run Average and Marginal Cost;Long Run Costs;Long Run Costs;Long Run Costs;Economies and Diseconomies of Scale;Long Run Costs;Long Run Costs;Long Run Costs;Long Run Versus Short Run Cost Curves;Long Run Cost withConstant Returns to Scale;Long Run Cost with Economiesand Diseconomies of Scale;Long Run Cost withConstant Returns to Scale;Long Run Cost withConstant Returns to Scale;Production with Two Outputs –