ECO 365 Week 3 participation Principles of Microeconomics, Ch. 13: The Costs of Production

ECO 365 Week 3 participation Principles of Microeconomics, Ch. 13: The Costs of Production

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ECO 365 Week 3 participation Principles of Microeconomics, Ch. 13: The Costs of Production
 

Read Ch. 13 of Principles of Microeconomics:

 

 

 

13-1 What Are Costs?, pp. 260-262
 

 

13-2 Production and Costs, pp. 263-265
 

 

13-3 The Various Measures of Cost, pp. 265-271
 

 

13-4 Costs in the Short Run and in the Long Run, pp. 271-273
 

 

Consider the following as you read:

 

 

 

Understand the supply curve.
 

 

Understand how to apply the law of supply.
 

 

Understand the study of how firms’ decisions about prices and quantities depend on the market conditions they face.
 

 

Understand the field of industrial organization.
 

 

Understand cost of production.
 
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