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[Essentials of Economics]Chapter12 The costs of production
武俊敏 发表于 2008-02-16 11:31:24
Economic profit,total revenue minus total cost,including both explicit and implicit cost.Accounting profit,total revenue minustotal explicit cost.|The marginal cost curve crosses the average total cost curve at its minimum.MC,ATC,AVC,AFC.|Economies of scale often arise because higher production levels allow specialization among workers,which permit each worker to become better at his or her assigned tasks.diseconomies of scale can arise because of coordination problems that are inherent in any large organization.
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