复旦大学本科微观经济学lecture培训教案.pptVIP

Key issues 1. measuring costs 2. short-run cost minimization 3. long-run cost minimization 4. costs are lower in long run 5. costs of producing multiple goods simultaneously Two-step procedure to choose technology 1. pick all technologically efficient production processes 2. from these technologically efficient production processes, pick the one that is economically efficient (minimizes cost) Two reasons to study costs 1. understanding relationship between costs of inputs and production helps us determine least costly way to produce 2. relationship between output and costs determines nature of