TAILIEUCHUNG - Lecture Managerial economics (8e): Chapter 5 - Samuelson, Marks

Chapter 5 - Production. We open this chapter by examining the production function, a quantitative summary of the firm’s production possibilities. Next, we look closely at production in the short run and examine the impact on output of changing a single input. Then we consider production in the long run, when the firm has the flexibility to vary the amounts of all inputs. | Chapter Five Production One-tenth of the participants produce over one-third of the output. Increasing the number of participants merely reduces the average output. ~Norman Augustine, Augustine’s Laws For Discussion Allocating a Sales Force To a greater or lesser extent, almost all firms face the task of finding and retaining customers for their goods. Basic Production Concepts Production Technology A Production Function for Auto Parts Production with one variable Input Short-Run and Long-Run Production Marginal Product The Law of Diminishing Marginal Returns Optimal Use of an Input Example 1 Example 2 Figure Total Product and Marginal Product Production in the Long Run Returns to Scale Least-Cost Production Example 3 Winning in Football and Baseball A Graphical Approach Figure Isoquants and Isocost Lines Figure Producing Output at Minimum Cost Measuring Production Functions Linear Production Production with Fixed Proportions Polynomial Functions The Cobb-Douglas Function

• Kinh tế học
• Managerial economics
• Lecture Managerial economics
• Decision making applications
• Economic decision making
• Marginal product
• Market interactions
• Fundamentals of managerial economics
• Marginal analysis
• Marginal benefit
• Economic principles
• Kinh tế học quản lý
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production
• Organizing production