The Costs of Production 生产成本
Chapter 13
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The Costs of Production
The Law of Supply:供给法则
Firms are willing to produce and sell a greater quantity of a good when the price of the good is high.
This results in a supply curve that slopes upward.
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The Firm’s Objective企业的目标
利润最大化
The economic goal of the firm is to maximize profits.
企业的经济目标是利润最大化
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A Firm’s Total Revenue and Total Cost
Total Revenue总收益
The amount that the firm receives for the sale of its output.
Total Cost总成本
The amount that the firm pays to buy inputs.
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A Firm’s Profit企业利润
Profit is the firm’s total revenue minus its total cost.
Profit = Total revenue - Total cost利润= 总收益—总成本
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Costs as Opportunity Costs作为机会成本的成本
A firm’s cost of production includes all the opportunity costs of making its output of goods and services.
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Explicit and Implicit Costs显性和隐性成本
A firm’s cost of production include explicit costs and implicit costs.
Explicit costs involve a direct money outlay for factors of production.
Implicit costs do not involve a direct money outlay.
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Economic Profit versus Accounting Profit经济利润和会计利润
Economists measure a firm’s economic profit as total revenue minus all the opportunity costs (explicit and implicit).
Accountants measure the accounting pr
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