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Ch. 10 - The Costs of ProductionWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Microeconomics
Ch. 2 - Introductory Economic Models
Ch. 3 - Supply and Demand
Ch. 4 - Elasticity
Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors
Ch. 6 - Introduction to Taxes and Subsidies
Ch. 7 - Externalities
Ch. 8 - The Types of Goods
Ch. 9 - International Trade
Ch. 10 - The Costs of Production
Ch. 11 - Perfect Competition
Ch. 12 - Monopoly
Ch. 13 - Monopolistic Competition
Ch. 14 - Oligopoly
Ch. 15 - Markets for the Factors of Production
Ch. 16 - Income Inequality and Poverty
Ch. 17 - Asymmetric Information, Voting, and Public Choice
Ch. 18 - Consumer Choice and Behavioral Economics
Sections
Revenue, Cost, and Profit
The Production Function and Diminishing Returns
Marginal Cost
The Relationship Between Average Cost and Marginal Cost
Graphing Costs
Average Total Cost: Short Run and Long Run
Isoquant Lines
Isocost Lines
Cost-Minimizing Combination of Labor and Capital
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Next SectionMarginal Cost
The more we want, the less we get. This isn't an inspirational quote from Instagram; we're talking diminishing returns!

Concept #1: The Production Function and Diminishing Returns

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Concept #2: Calculating Fixed Cost, Variable Cost, and Average Total Cost

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Previous SectionRevenue, Cost, and Profit
Next SectionMarginal Cost
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