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About 7 results
  • 2.6: Marginal Analysis
    https://socialsci.libretexts.org/Bookshelves/Economics/Managerial_Economics_Principles_(LibreTexts)/02%3A_Key_Measures_and_Relationships/2.06%3A_Marginal_Analysis
    Economists analyze relationships like revenue functions from the perspective of how the function changes in response to a small change in the quantity.
  • 9.2: Production Cost
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/9%3A_Production/9.2%3A_Production_Cost
    Variable costs change according to the quantity of goods produced; fixed costs are independent of the quantity of goods being produced.
  • 10.2: Production Decisions in Perfect Competition
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/10%3A_Competitive_Markets/10.2%3A_Production_Decisions_in_Perfect_Competition
    Output is the amount of a good produced; revenue is the amount of income made from sales minus all business expenses.
  • 1.4: Basic Economic Questions
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/1%3A_Principles_of_Economics/1.4%3A_Basic_Economic_Questions
    A firm’s production outputs are what it creates using its resources: goods or services.
  • 9.1: The Production Function
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/9%3A_Production/9.1%3A_The_Production_Function
    The production function relates the maximum amount of output that can be obtained from a given number of inputs.
  • 1.2: Individual Decision Making
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/1%3A_Principles_of_Economics/1.2%3A_Individual_Decision_Making
    When scarce resources are used, actors are forced to make choices that have an opportunity cost.
  • 11.3: Monopoly Production and Pricing Decisions and Profit Outcome
    https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/11%3A_Monopoly/11.3%3A_Monopoly_Production_and_Pricing_Decisions_and_Profit_Outcome
    Monopolies, as opposed to perfectly competitive markets, have high barriers to entry and a single producer that acts as a price maker.

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