Unit 2: Elasticity, Consumer Choice, Costs

Lesson 7b: Production Costs in the Short Run

Assignments: Video Lectures

4.1.5 Relating Costs to Productivity 5:26 [MyNotes] 4.2.1 Defining Variable Costs 4:23 [ [MyNotes] 4.2.2 Graphing Variable Costs 4:57 [MyNotes] 4.2.3 OPTIONAL: Graphing Variable Costs Using a Geometric Trick 5:04 4.3.1 Defining Marginal Costs 6:41 [MyNotes] 4.3.2 Deriving the Marginal Cost Curve 10:59 [MyNotes] 4.3.3 Understanding the Mathematical Relationship between Marginal Cost and Marginal Product 10:26 [MyNotes] 4.4.1 Defining Average Variable Costs 5:39 [MyNotes] 4.4.2 OPTIONAL: Understanding the Relationship between Average Variable Costs and Average Product 6:06 [MyNotes] 4.4.3 Understanding the Relationship between Marginal Cost and Average Variable Cost 7:54 [MyNotes] 4.5.1 Defining and Graphing Average Fixed Cost and Average Total Cost 6:55 [MyNotes] 4.5.2 Calculating Average Total Cost 4:50 [MyNotes] 4.5.3 Putting the Cost Curves Together 10:09 [MyNotes] 4.6.4 Shifts in the Cost Curves 4:49 [MyNotes]

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