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Unit III: Costs of Production and Perfect Competition

Unit III: Costs of Production and Perfect Competition. Production= Converting inputs into output. 2. Analyzing Production. Lets look at an example to show the relationship between inputs and outputs. 3. Widget Production Simulation. Inputs and Outputs. Change in Total Product.

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1.34k views • 133 slides

Micro Review Day 1:

Micro Review Day 1:. Product Markets Theory of Choice Total Utility & Marginal Utility Market Behaviors MR=MC. Production= Converting inputs into output. Analyzing Production. Widget Production Simulation. Inputs and Outputs. Change in Total Product. Marginal Product =. Change in Inputs.

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Unit Reflection

Unit Reflection. Does your grade reflect your learning? Why or why not? What is working? What can Mr. Clifford do to help? What is not working? What do we need to change? Identify three goals for the next unit. Unit 3: Costs of Production and Perfect Competition. Unit 3 Overview.

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Vc total variable costs - PowerPoint PPT Presentation

Unit III: Costs of Production and Perfect Competition

Micro Review Day 1:

Unit Reflection