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    Determinants of Cost: C F (S, O, P, T )

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    Deepika Gupta
    The document discusses the different types of costs including total, fixed, and variable costs. It explains the relationship between costs like average and marginal costs. Different cost curves are presented like the average cost, marginal cost, and average fixed cost curves. The shapes of these curves are examined in both the short run and long run, including traditional and modern views of long run average cost curves that can be U-shaped or L-shaped. Economies and diseconomies of scale are also covered.

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    Determinants of Cost: C F (S, O, P, T )

    Uploaded by

    Deepika Gupta
    52 views8 pages
    The document discusses the different types of costs including total, fixed, and variable costs. It explains the relationship between costs like average and marginal costs. Different cost curves are presented like the average cost, marginal cost, and average fixed cost curves. The shapes of these curves are examined in both the short run and long run, including traditional and modern views of long run average cost curves that can be U-shaped or L-shaped. Economies and diseconomies of scale are also covered.

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    eco notes

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    The document discusses the different types of costs including total, fixed, and variable costs. It explains the relationship between costs like average and marginal costs. Different cost curves are presented like the average cost, marginal cost, and average fixed cost curves. The shapes of these curves are examined in both the short run and long run, including traditional and modern views of long run average cost curves that can be U-shaped or L-shaped. Economies and diseconomies of scale are also covered.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    52 views8 pages

    Determinants of Cost: C F (S, O, P, T )

    Uploaded by

    Deepika Gupta
    The document discusses the different types of costs including total, fixed, and variable costs. It explains the relationship between costs like average and marginal costs. Different cost curves are presented like the average cost, marginal cost, and average fixed cost curves. The shapes of these curves are examined in both the short run and long run, including traditional and modern views of long run average cost curves that can be U-shaped or L-shaped. Economies and diseconomies of scale are also covered.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    Download as ppt, pdf, or txt
    of 8

    Name of Institution

    Determinants of cost
    C=f( S,O,P,T)

    00 0

    Total costs for firm TC X


    TVC Bottom of the MC curve

    Name of Institution

    0 0

    0 0

    0 0

    0 0

    TFC
    0 0 0 0 0 0 0 0 0 0

    Cost
    Total Cost Fixed Cost Variable cost Marginal Cost Average fixed Cost Average Variable Cost

    Name of Institution

    Name of Institution

    Relation between AC and MC Shapes of AC and MC curves

    Average and marginal costs MC

    Name of Institution

    AC AVC

    Costs ()

    z y x AFC

    Output (Q)

    . Name of Institution

    Relation between Cost and Production

    Long Run
    Traditional View Modern View saucer shaped L shaped

    Name of Institution

    Reasons for U and L shape

    Name of Institution

    Economies of Scale
    Production Economics Marketing Economics Managerial Economics Transport and storage economics Diseconomies

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