Production参考.ppt

Chapter 1 Chapter 6 Production Topics to be Discussed The Technology of Production Isoquants Production with One Variable Input (Labor) Production with Two Variable Inputs Returns to Scale Introduction Our focus is the supply side. The theory of the firm will address: How a firm makes cost-minimizing production decisions How cost varies with output Characteristics of market supply Issues of business regulation The Technology of Production The Production Process Combining inputs or factors of production to achieve an output Categories of Inputs (factors of production) Labor Materials Capital Th