Chapter 6 – Business Costs & Revenue Syllabus Unit – Business Finance and Accounting.
1 Chapter 13 MODELS OF MONOPOLY Copyright ©2005 by South-Western, a division of Thomson Learning. All rights reserved.
Production and Cost in the Long Run Overheads. The long run In the long run, there are no fixed inputs or fixed costs; all inputs and all costs are variable.
Short-Run versus Long-Run Costs. Fixed costs are not totally uncontrollable. Fixed costs are not totally uncontrollable. In the long-run, all inputs are.
Monopoly ECO 230 J.F. O’Connor. Market Structure Perfect Competition –participants act as price takers and cannot by individual behavior affect market.
1 Chapter 7 Production Costs Key Concepts Summary Practice Quiz Internet Exercises Internet Exercises ©2002 South-Western College Publishing.