ECON 10 22 2013
Short run cost
- Production function=> what do you need to do a
- A firm is not the governmental public industry like
- Capitalists buy inputs and sell the outputs to get all
the cost back (like wage) and get interest.
- Specialization makes marginal product. It means 2
people work more efficient.
- Marginal product has a climax, it rises and falls,
because the utilization of the machines (capital)
- Margin can never rise with the average falls.