The Costs of Production by James DeNicco

video locked

About the Lecture

The lecture The Costs of Production by James DeNicco is from the course Principles of Microeconomics (EN). It contains the following chapters:

  • A Closer Look at Revenue, Cost and Profit
  • Economic versus Accounting Profit
  • Fixed and Variable Costs
  • The U-Shape of the ATC
  • Cost Curves for a Typical Firm
  • Recap

Included Quiz Questions

  1. explicit costs ; opportunity costs
  2. implicit costs ; opportunity costs
  3. explicit costs ; implicit costs
  4. opportunity costs ; explicit costs
  1. increases ; decreasing
  2. decreases ; increasing
  3. increases ; increasing
  4. decreases ; decreasing
  1. Marginal cost is $15 & average total cost is $10.
  2. Marginal cost is $10 & average total cost is $15.
  3. Marginal cost is $15 & average variable cost is $10.
  4. Marginal cost is $15 & average fixed cost is $10.
  1. At first AFC falls more quickly then AVC rises.
  2. At first AFC falls more quickly then AVC falls.
  3. At first AFC rises more quickly then AVC falls.
  4. At first AFC rises more quickly then AVC rises.

Author of lecture The Costs of Production

 James DeNicco

James DeNicco


Customer reviews

(1)
5,0 of 5 stars
5 Stars
5
4 Stars
0
3 Stars
0
2 Stars
0
1  Star
0

or
Unlock lecture 6.90
USD8.09
GBP5.91