1. Cost behavior 2. Cost analysisTypes of costs:- Behavior of cost in the short run Behavior of cost in the long run Economies of scale Vs Economies of scope 3. Costs in…
Slide 1 KEY WORDS: Economy of Scale ; cost per unit ; internal ; external Economies of Scale This section is split into 4 sections ; 1. Internal economy of scale…
Microeconomics topic 2 Microeconomics topic 3 Economics 2013-14 SUPPLY NATURE OF PRODUCTION SPECIALISATION Modern production is based on the principle of specialisation.…