Production decisions and economic profit
Economic profit vs. accounting profit. Average total cost (ATC) and marginal cost (MC). Marginal product of labor (MPL). Price discrimination.

Subtopics

  1. Economic profit and opportunity cost Economic profit and opportunity cost
  2. Average costs (ATC, MC) and marginal revenue (MR) Average costs (ATC, MC) and marginal revenue (MR)
  3. Average fixed, variable and marginal costs Average fixed, variable and marginal costs
  4. Labor and marginal product revenue Labor and marginal product revenue
  5. Price discrimination Price discrimination