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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

What this episode covers

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.

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How long is this episode of Econs for the Ipod?

This episode is 5 minutes long.

When was this Econs for the Ipod episode published?

This episode was published on May 12, 2009.

What is this episode about?

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....

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