TAILIEUCHUNG - Lecture Understanding economics (2nd edition): Chapter 4 - Mark Lovewell, Khoa Nguyen

Chapter 4 - Costs of production. In this chapter you will: consider the major organizational forms of business—sole proprietorships, partnerships, and corporations; learn about economic costs (explicit and implicit) of production and economic profit analyze short-run (total, average, and marginal) products, and the law of diminishing marginal returns; derive short-run (total, average, and marginal) costs; examine long-run results of production (increasing returns to scale, constant to scale, and decreasing to scale) and long-run costs. | Understanding Economics 2nd edition by Mark Lovewell and Khoa Nguyen Chapter 4 Costs of Production Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. Chapter Focus In this chapter you will: consider the major organizational forms of business—sole proprietorships, partnerships, and corporations learn about economic costs (explicit and implicit) of production and economic profit analyze short-run (total, average, and marginal) products, and the law of diminishing marginal returns derive short-run (total, average, and marginal) costs examine long-run results of production (increasing returns to scale, constant to scale, and decreasing to scale) and long-run costs Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. Types of Production There are three main sectors in the economy the primary sector consists of industries that extract or cultivate natural resources the secondary .

• Kinh tế học
• Understanding economics
• Lecture Understanding economics
• Economic problem
• Economic systems
• Costs of production
• Productive efficiency
• Reading and understanding economics
• Fiscal policy
• The international business environment
• Financial markets
• Financial institutions
• Featuring the demise
• National income accounts
• Gross Domestic Product
• Consumer price index
• Inflation’s effects
• Economic fluctuations
• Aggregate demand
• Stabilization policies
• Functions of money
• Money supply
• Monetary policy
• Expansionary monetary policy
• The foreign sector
• Balance of payments accounts
• Foreign trade
• Canada’s trade patterns
• Economic growth
• Growth strategies
• Production possibilities model
• Production possibilities curve
• The demand curve
• The supply curve
• Inelastic demand
• Revenue changes
• Perfect competition
• Market structures
• Imperfect competition
• Monopolist’s demand
• Demand for resources
• Competitive labour market
• Income distribution
• Income inequality
• Introducing economics
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• Competition policy in action
• Market failure
• Government intervention
• Understanding business
• The dynamic business environment
• Taking risks
• Global markets
• Demanding ethical
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• Master Thesis in Economics
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• Manufacturing Engineers
• Risk Management
• The Value Of Risk Management
• The Pharmaceutical Industry
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• Economic Crisis
• Economic solutions
• Natural Systems
• Understanding Transformations
• Panarchy
• conservation biology
• ecological economics
• environmental policy
• The economics of money
• Financial system
• Understanding interest rates
• The stock market
• Rational expectations
• The efficient market hypothesis
• Financial crises