Overview
Distinguishing between the different cost concepts (variable, fixed, total, average, marginal, short-run, long-run).
Drawing different costs curve
Explaining the relationship between costs and production.
What you'll learn
- Basic cost concepts: Total, average, marginal, fixed, variable, short-run, and long run cost.
- Distinction between economist and accountant’s view of cost.
Your Teacher
- 34 Lessons Taught
- 4.6 Teacher Rating