Скачать или смотреть The Firm and Production Costs | Microeconomics (Part 4/7)

Ever wondered how businesses decide how much to produce and what prices to charge? This video dives into the world of firms and production costs! We'll explore key concepts like fixed costs, variable costs, marginal cost, and average cost, and see how they influence a firm's production decisions in both the short run and the long run.

00:00 Session Overview
01:51 Economic Profit vs Accounting Profit
04:15 Short-Run vs Long-Run Decisions
06:01 The Production Function
07:43 Short-Run Production Measures - TPL, MPL, APL
09:26 Law of Diminishing Marginal Returns
14:11 Short-Run Costs - TFC, TVC, TC
18:09 Short-Run Costs - MC, AFC, AVC, ATC
22:14 MPL & APL vs MC & AVC - A Comparison
24:06 Long-Run Costs - LRAC