微观经济学教学课件：Ch10-Output and Costs.pptVIP

After studying this chapter you will be able to Distinguish between the short run and the long run Explain the relationship between a firm’s output and labor employed in the short run Explain the relationship between a firm’s output and costs in the short run and derive a firm’s short-run cost curves Explain the relationship between a firm’s output and costs in the long run and derive a firm’s long-run average cost curve Survival of the Fittest Size does not guarantee survival in business. Even large firms can disappear or get eaten up by other firms. Millions of small firms close down each ye