经济学教学课件 13_4E.pptVIP

? 2007 Thomson South-Western;The Costs of Production;WHAT ARE COSTS?;WHAT ARE COSTS?;Total Revenue, Total Cost, and Profit;Total Revenue, Total Cost, and Profit;Costs as Opportunity Costs;Economic Profit versus Accounting Profit;Economic Profit versus Accounting Profit;Figure 1 Economists versus Accountants;PRODUCTION AND COSTS;The Production Function ;Table 1 A Production Function and Total Cost: Hungry Helen’s Cookie Factory;The Production Function ;Figure 2 Hungry Helen’s Production Function;The Production Function ;From the Production Function to the Total-Cost Curve;Table 1 A Production Function and Total Cost: Hungry Helen’s Cookie Factory;Figure 2 Hungry Helen’s Total-Cost Curve;THE VARIOUS MEASURES OF COST;Fixed and Variable Costs;Table 2 The Various Measures of Cost: Thirsty Thelma’s Lemonade Stand;Fixed and Variable Costs;Fixed and Variable Costs;Average and Marginal Costs;Average and Marginal Costs;Average and Marginal Cost;Thirsty Thelma’s Lemonade Stand;Figure 3 Thirsty Thelma’s Total-Cost Curves;Figure 4 Thirsty Thelma’s Average-Cost and Marginal-Cost Curves;Cost Curves and Their Shapes;Cost Curves and Their Shapes;Cost Curves and Their Shapes;Cost Curves and Their Shapes ;Cost Curves and Their Shapes ;Typical Cost Curves;Figure 5 Cost Curves for a Typical Firm;Typical Cost Curves ;COSTS IN THE SHORT RUN AND IN THE LONG RUN;Economies and Diseconomies of Scale;Figure 6 Average Total Cost in the Short and Long Run;The goal of firms is to maximize profit, which equals total revenue minus total cost. When analyzing a firm’s behavior, it is important to include all the opportunity costs of production. Some opportunity costs are explicit while other opportunity costs are implicit. ;A firm’s costs reflect its production process. A typical firm’s production function gets flatter as the quantity of input increases, displaying the property of diminishing marginal product. A firm’s total costs are divided between fixed and variable costs. Fixed costs do not c