Economics Unit 3 - Costs
Lesson 1 Etourism Introduction
Recruiting
Chapter 6 Cost analysis and Measurement. KEY CONCEPTS historical cost current cost replacement cost opportunity cost explicit cost implicit cost incremental.
Why does production have a cost? because.... Scarcity Inputs are scarce. They have opportunity costs.
Calculating Costs, Revenues and Profit. Today’s session Identification of fundamental business cost elements Distinguishing between revenue and profit.
PPA 723: Managerial Economics Lecture 11: Costs. Managerial Economics, Lecture 11: Costs Outline Short-Run Cost Curves The Input Mix Decision Long-Run.
Short-Run versus Long-Run Costs
