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Chapter 9: Long-Run Costs and Output Decisions – Principles of Microeconomics

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Revenue, Cost, and Profit

  • Guided course
    Explicit and Implicit Cost
    05:51
  • Guided course
    Fixed Costs and Variable Costs; Short Run and Long Run
    07:54
  • Guided course
    Accounting Profit and Economic Profit
    01:59

The Relationship Between Average Cost and Marginal Cost

  • Guided course
    Average Cost and Marginal Cost
    06:38
  • Guided course
    Patterns of MC, AFC, AVC, and ATC curves
    08:56

Marginal Cost

  • Guided course
    Marginal Cost
    10:48

Market Supply Curve in the Short Run and Long Run

  • Guided course
    Market Supply Curve in the Long Run
    06:07
  • Guided course
    Market Supply Curve in the Short Run
    03:02

Long Run Equilibrium

  • Guided course
    Long Run Equilibrium
    07:04

The Production Function and Diminishing Returns

  • Guided course
    The Production Function and Diminishing Returns
    07:45
  • Guided course
    Calculating Fixed Cost, Variable Cost, and Average Total Cost
    05:09

Circular Flow Diagram

  • Guided course
    Households and Firms
    01:32
  • Guided course
    The Circular Flow Diagram
    04:20