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Lecture notes - Costs of Production

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Lecture notes: Introduction To Economics For Business Students (ECON1006), The Economy, ISBN: 0247

Institution
University Of Greenwich
Course
Introduction To Economics For Business Students (ECON1006)










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Core Team, Oxford University Press The Economy
  • september 2017
  • 9780198810247
  • Unknown

Written for

Institution
University of Greenwich
Study
Unknown
Course
Introduction To Economics For Business Students (ECON1006)
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Document information

Uploaded on
August 11, 2022
Number of pages
72
Written in
2022/2023
Type
Class notes
Professor(s)
Dr. adotey bing-pappoe
Contains
Costs of production

Subjects

  • economics
  • business
  • internationalbusiness
  • management

Content preview

COSTS OF
PRODUCTION

, BUSINESS QUESTIONS


• What do costs of production consist of?
• How are costs of production measured?
• What is the relationship between inputs and outputs in the
short run and in the long run?
• What are meant by economies of scale?
• Why do economies of scale exist?
• How can a business combine its inputs in the most efficient
way?

, LECTURE TOPICS


• The meaning of costs
• Production in the short run
• Costs in the short run
• Production in the long run
• Costs in the long run
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