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Cost and Industry Structure

16 Lessons 58 mins

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Introduction to Cost and Industry Structure

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2

Explicit and Implicit Costs, and Accounting and Economic Profit

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3

Key Concepts and Summary

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4

The Structure of Costs in the Short Run

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Fixed and Variable Costs

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Average Total Cost, Average Variable Cost, Marginal Cost

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7

Lessons From Alternative Measures of Costs

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8

A Variety of Cost Patterns

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9

Key Concepts and Summary

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10

The Structure of Costs in the Long Run

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11

Choice of Production Technology

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Economies of Scale

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Shapes of Long-Run Average Cost Curves

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The Size and Number of Firms in An Industry

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15

Shifting Patterns of Long-Run Average Cost

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16

Key Concepts and Summary

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