EPISODE · May 12, 2009 · 5 MIN

The Short Run

from Econs for the Ipod · host Jonathan Evans

In this podcast, we examine the law of diminishing marginal returns and use it to explain the shapes of the total, average and marginal product curves. We then examine the relationship between the product curves and the cost curves for the firm. Finally, we explain the relationship between average total cost and marginal cost for a firm.

Episode metadata supplied by the publisher feed · Published May 12, 2009

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The Short Run

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