The New Encyclopædia BritannicaEncyclopædia Britannica, 1983 - Encyclopedias and dictionaries |
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Page 20
... cost data and the technological data can now be brought together . The variable cost of using x1 , x2 units of the factors of production is written pixi + P2x2 , and this information can be added to the isoquant diagram ( Figure 2 ) ...
... cost data and the technological data can now be brought together . The variable cost of using x1 , x2 units of the factors of production is written pixi + P2x2 , and this information can be added to the isoquant diagram ( Figure 2 ) ...
Page 21
... cost equals that price . Thus the quantity that the firm will produce in response to any price can be found in Figure 3 by reading the marginal cost curve , and for this reason the marginal cost curve is said to be the short - run ...
... cost equals that price . Thus the quantity that the firm will produce in response to any price can be found in Figure 3 by reading the marginal cost curve , and for this reason the marginal cost curve is said to be the short - run ...
Page 22
... cost industries , average cost declines as the rate of output grows , at least until the plant is large enough to supply an appreciable fraction of its market . Decreasing costs are characteristic of manu- facturing in which heavy ...
... cost industries , average cost declines as the rate of output grows , at least until the plant is large enough to supply an appreciable fraction of its market . Decreasing costs are characteristic of manu- facturing in which heavy ...
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action activity administration American amino acids appear authority became become behaviour body bonds called century church civil common contains continued cost countries court debt early economic effects England English established example exist experience factors figures followed force function German given groups human important increase individual industrial influence interest involved issues Italy kind known land later less limited magazines major means ment methods movement nature occur opinion organization original parties percent period person petrels political possible practice present printing problems production prophets prostitution proteins Protestant psychology published pumps puppet reform responsible result Roman rules social society species structure tend term theory tion United usually various