1. THE COSTS OF PRODUCTION(notes) 2. ECONOMIC COSTSKeep in mind! Resources are scarce and are used toproduce many different products. The economic cost of using resourcesto…

1. CHAPTER7 The Cost of ProductionPrepared by: Fe rna ndo & Yvonn Quija no© 2008 Prentice Hall Business Publishing • Microeconomics • Pindyck/Rubinfeld, 7e. 2. CHAPTER…

Slide 1 ECNE610 Managerial Economics APRIL 2014 1 Dr. Mazharul Islam Chapter-7 Slide 2 Dr. Mazharul Islam 2 5 7 The Theory and Estimation of Cost Slide 3 Lesson Objectives…

Pindyck/Rubinfeld Microeconomics 7.1 Measuring Cost: Which Costs Matter? 7.2 Costs in the Short Run 7.3 Costs in the Long Run 7.4 Long-Run versus Short-Run Cost Curves 7.5…

Pindyck/Rubinfeld Microeconomics The Cost of Production 7 C H A P T E R Chapter 7 The Cost of Production ‹Nº› of 49 CHAPTER 7 OUTLINE 7.1 Measuring Cost: Which Costs…

Chapter 7 The Cost of Production CHAPTER 7 OUTLINE 7.1 Measuring Cost: Which Costs Matter? 7.2 Cost in the Short Run 7.3 Cost in the Long Run 7.4 Long-Run versus Short-Run…