# Cost Function And Cost Curve Project Class 12 Pdf File Name: cost function and cost curve project class 12 .zip
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Published: 11.12.2020  Marginal Cost Quiz Marginal cost gives the change in total cost that results from producing an additional unit of output. The first worker adds two goods. Learn more.

## Marginal Cost Quiz

Please also refer to the NCERT solutions for Class 12 Economics to understand the answers of the exercise questions given at the end of this chapter. Easy to print and read. Copies of these textbooks may be downloaded and used as textbooks or for reference. Refer to other chapters and books at other links NCERT now providing you soft copies of all textbooks of all subjects from class first to twelfth online. In the previous chapter, we have discussed the behaviour of the consumers. In this chapter as well as in the next, we shall examine the behaviour of a producer. ## Short Run and Long Run Cost Curve

Introduction In the supply process, households first offer the factors of production they control to the factor market. The factors are then transformed by firms into goods that consumers want. Production is the name given to that transformation of factors into goods. The Role of the Firm A key concept in production is the firm. The firm is an economic institution that transforms factors of production inputs into consumer goods output, quantity supplied. 8. 6. 4. 2. 0. FIGURE Long-Run Total Cost Curve for a Trucking Firm. The curve TC(Q) is a graph of the long-run total cost function for a typical trucking The relationship between average and marginal height in your class is the.

## Cost Function.ppt

Cost of production : Expenditure incurred on various inputs to produce goods and services. Cost function : Functional relationship between cost and output. Money cost : Money expenses incurred by a firm for producing a commodity or service. Explicit cost : Actual payment made on hired factors of production. For example wages paid to the hired labourers, rent paid for hired accommodation, cost of raw material etc.

In economics , a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy , productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve. Profit-maximizing firms use cost curves to decide output quantities. There are various types of cost curves, all related to each other, including total and average cost curves; marginal "for each additional unit" cost curves, which are equal to the differential of the total cost curves; and variable cost curves. Some are applicable to the short run , others to the long run. In Economics, distinction is often made between the short-run and long-run. By short-run is meant that period of time within which a firm can vary its output by varying only the amount of variable factors, such as labour and raw material. In the short-run period, the fixed factors such as capital equipment, management personnel, the factory buildings, etc.

### Cost curve

In the long run, all the factors of production used by an organization vary. The existing size of the plant or building can be increased in case of long run. There are no fixed inputs or costs in the long run. Long run is a period in which all the costs change as all the factors of production are variable. It should be noted that the ability of an organization of changing inputs enables it to produce at lower cost in the long run. LTC is always less than or equal to short run total cost, but it is never more than short run cost.

Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy. See our Privacy Policy and User Agreement for details. Published on Mar 17, SlideShare Explore Search You. Submit Search. Несмотря на все предпринятые в конце 1970-х годов усилия министерства обороны сохранить Интернет для себя, этот инструмент оказался настолько соблазнительным, что не мог не привлечь к себе внимания всего общества. Со временем им заинтересовались университеты, а вскоре после этого появились и коммерческие серверы. Шлюзы открылись - в Интернет хлынула публика. К началу 1990-х годов некогда тщательно охраняемый правительством Интернет превратился в перенаселенное пространство, заполненное общедоступными почтовыми серверами и порнографическими сайтами. Вскоре после не получившего огласки, но причинившего колоссальный ущерб государственной безопасности проникновения в базы данных Военно-морского флота стало абсолютно очевидно, что секретная информация, хранящаяся на компьютерах, подключенных к Интернету, перестала быть тайной. По предложению министерства обороны президент подписал тайное распоряжение о создании новой, абсолютно безопасной правительственной сети, которая должна была заменить скомпрометировавший себя Интернет и стать средством связи разведывательных агентств США. Чтобы предотвратить дальнейшее проникновение в государственные секреты, вся наиболее важная информация была сосредоточена в одном в высшей степени безопасном месте - новой базе данных АНБ, своего рода форте Нокс разведывательной информации страны.

the firm's cost function and a graph of it a cost curve. We should note that this cost function depends upon various things, which we could include in the notation but​. 