Unit 2: Elasticity, Consumer Choice, Costs

Lesson 7a: Economic Profit and the Production Function

Assignments: Video Lectures

AN ECONOMIST'S VIEW OF COSTS AND PROFIT 5.1.4 Finding Economic and Accounting Profit 13:54 [MyNotes] PRODUCTION IN THE SHORT RUN 4.1.1 Understanding Output, Inputs, and the Short Run 8:48 [MyNotes] 4.1.2 Explaining the Total Product Curve 15:57 [MyNotes] 4.1.3 Drawing Marginal Product Curves 7:22 [MyNotes] How to Plot MP at the Midpoint 6:54 4.1.4 Understanding Average Product 10:32 [MyNotes]

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