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ECON 1050 (117)
Lecture

Theories of Firms

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Department
Economics
Course
ECON 1050
Professor
Bryce Mc Bride
Semester
Fall

Description
Lecture November 7November 7 2013255 PMTheories of Firms Costs Revenues and ProfitsHomework Chapter 13 Q4R 4 PA 1 4 5 7The Central EquationTotal ProfitsTotal Revenues Total CostsCosts can be understood in a few waysExplicit costs you actually had to pay moneyImplicit costs things invisible to an accountant time capitalEconomic costs total costsExplicitImplicit costsShortrun when you have some costs for your business that you cant change fixed costsFixed costsvariable coststotal cos
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