TAILIEUCHUNG - Chương 8 Phát triển các lý thuyết về cung cấp: Chi phí sản xuất

Tham khảo tài liệu 'chương 8 phát triển các lý thuyết về cung cấp: chi phí sản xuất', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Chapter 8 Developing the theory of supply: Costs and production David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Choosing output COSTS REVENUES Technology & costs of hiring factors of production TC curves (short & long run) AC (short & long run) MC Demand curve AR MR CHECK: produce in SR? close down in LR? Choose output level 8. See the introduction to Chapter 8 in the main text, and Figure 8-1. Animation effects offer a suggested sequence for discussion, summarising the material in this chapter. The production function The amount of output produced depends upon the inputs used in the production process A factor of production (“input”) is any good or service used to produce output The production function specifies the maximum output which can be produced given inputs 8. See Section 8-1 in the main text. Short run vs. long run The short run is the period in which a firm can make only partial adjustment of inputs . the firm may be able to vary the amount of labour, but cannot change capital. The long run is the period in which a firm can adjust all inputs to changed conditions. The long-run total cost curve describes the minimum cost of producing each output level when the firm is free to vary all input levels. 8. See Section 8-3 in the main text. Average cost The average cost of production is total cost divided by the level of output. Long-run average cost (LAC) is often assumed to be U-shaped: LAC Average cost Output 8. See Section 8-3 in the main text. Economies of scale Economies of scale – or increasing returns to scale – occur when long-run average costs decline as output rises: LAC Average cost Output 8. See Section 8-4 in the main text, and Figure 8-3(a). Decreasing returns to scale – occur when long-run average costs rise as output rises: LAC Average cost Output 8. See Section 8-4 in the main text, and Figure 8-3(c). Constant returns to scale – .

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