清华经管IMBA管理经济学课件6.pptVIP

2 of 35 ? 2008 Prentice Hall Business Publishing ? Microeconomics ? Robert S. Pindyck, 8e. Chapter 7 The Cost of Production * of 49 ? 2008 Prentice Hall Business Publishing ? Microeconomics ? Pindyck/Rubinfeld, 7e. Fernando Yvonn Quijano Prepared by: ? 2008 Prentice Hall Business Publishing ? Microeconomics ? Pindyck/Rubinfeld, 7e. The Cost of Production 7 C H A P T E R CHAPTER 7 OUTLINE 7.1 Measuring Cost: Which Costs Matter? (last class) 7.2 Cost in the Short Run 7.3 Cost in the Long Run 7.4 Long-Run versus Short-Run Cost Curves 7.5 Production with Two Outputs—Economies of Scope MEASURING COST: WHICH COSTS MATTER? 7.1 Marginal and Average Cost Marginal Cost (MC) ● marginal cost (MC) Increase in cost resulting from the production of one extra unit of output. Because fixed cost does not change as the firm’s level of output changes, marginal cost is equal to the increase in variable cost or the increase in total cost that results from an extra unit of output. We can therefore write marginal cost as MEASURING COST: WHICH COSTS MATTER? 7.1 Marginal and Average Cost TABLE 7.1 A Firm’s Costs Rate of Fixed Variable Total Marginal Average Average Average Output Cost Cost Cost Cost Fixed Cost Variable Cost Total Cost (Units (Dollars (Dollars (Dollars (Dollars (Dollars (Dollars (Dollars per Year) per Year) per Year) per Year) per Unit) per Unit) per Unit) per Unit) (FC) (VC) (TC) (MC) (AFC) (AVC) (ATC) (1) (2) (3) (4) (5) (6) (7) 0 50 0 50 -- -- -- -- 1 50 50 100 50 50 50 100 2 50 78 128 28 25 39 64 3 50 98 148 20 16.7 32.7 49.3 4 50 112 162 14 12.5 28 40.5 5 50 130 180 18 10 26 36 6 50 150 200 20 8.3 25 33.3 7 50 175 225 25 7.1 25 32.1 8 50 204 254 29 6.3 25.5 31.8 9 50 242 292 38 5.6 26.9 32.4 10 50 300 350 58 5 30 35 11 50 385 435 85 4.5 35 39.5 Marginal Cost (MC) MEASURING COST: WHICH COSTS MATTER? 7.1 Marginal and Average Cost Average Total Cost (ATC) ● average total cost (ATC)