经济学原理萨缪尔森中山大学岭南学院.pptVIP

CH7 Analysis of Costs A. Economic Analysis of Costs Total Cost Fixed Cost (Sunk Cost) Variable Cost Marginal Cost: The extra or additional cost of producing 1 extra unit of output. The average cost Average Variable Cost Average Fixed Cost The Relationship between Total Cost and Marginal Cost All Cost Curves Can Be Derived from the Total Cost Curve The relationship of TC, AC and MC MC0?TC? MC0?TC? MCAC ?AC ? MCAC ?AC ? at the minimum point of AC, MC=AC Relation of Slope and Marginal Cost the link of production and costs Factors Influencing Cost: price of input production function (Technology) Diminishing Returns and U-shaped Cost Curves Diminishing Returns and U-shaped Cost Curves Choice of Input by the Firm Marginal Products and the Least-cost Rule Assumption: Firms minimize their costs of production. Least-cost rule Substitution Rule If the price of one factor falls while all other factor prices remain the same, firms will profit by substituting the now-cheaper factor for all the other factors. B. Economic costs and business accounting Income statement or statement of profit and loss (收益表或损益表) The fundamental identity: Net income (profit) = total revenue – total expenses cost of goods sold 销货成本 overhead costs 间接费用 depreciation 折旧 Balance sheet （资产负债表） Assets 资产 liabilities 负债 net worth 净值 Total assets = total liability + net worth Accounting conventions会计方法 流动资产 current assets 固定资产 fixed assets 应付帐款 accounts payable 应付债券 notes payable C. Opportunity costs Production, Cost Theory, and Decisions of the Firm equal-product curve or isoquant equal cost line Least cost Conditions: Substitution ratio Equal-Product Curve Equal-Cost Lines Least-Cost Input Combination Comes at C Least cost Conditions: * * * * * * *