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Chapter 8 - Producers in the Long Run: Cost, Efficiency, and Technological Change

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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

Cost-Minimizing Combination of Labor and Capital

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    Cost Minimizing Combination of Labor and Capital
    05:02
  • Guided course
    Differences in Cost Minimizing Point
    01:45

Long Run Entry and Exit Decision

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    Long Run Exit/Enter Decision (continued)
    06:04
  • Guided course
    Long Run Exit/Enter Decision
    02:39
  • Guided course
    Long Run Exit/Enter Decision on the Graph
    09:32

Average Total Cost: Short Run and Long Run

  • Guided course
    ATC in the Short Run and Long Run
    13:13

The Production Function and Marginal Revenue Product

  • Guided course
    The Factors of Production
    02:41
  • Guided course
    Marginal Revenue Product
    10:37
  • Guided course
    Marginal Revenue Product (Value of the Marginal Product of Labor)
    02:47