SHORT-RUN THEORY OF PRODUCTION Profits and the aims of the firm Long-run and short-run production: – –fixed and variable factors The law of diminishing.
Chapter 5 The Firm And the Isoquant Map Chapter 5 The Firm And the Isoquant Map.
Chapter 6 Production. Chapter 6Slide 2 Topics to be Discussed The Technology of Production Isoquants Production with One Variable Input (Labor) Production.
Part 4 © 2006 Thomson Learning/South-Western Production, Costs, and Supply.
