Talk:Cost curve

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March 2007[edit]

False, it SHOULD NOT be added to the article on cost curve. 202.70.202.146 11:01, 9 March 2007 (UTC)

I believe that it should be added!!!!

Yes i think that this page should be added to cost curve page. The graphs are missing on this page which are there on Cost Curve Page. —Preceding unsigned comment added by 196.12.53.9 (talk) 10:16, 23 September 2007 (UTC)

Cost minimization[edit]

the article should note that the average cost curve shows the minimum costs of producing a given level of output. In other word the cost curve reflects the behaviorial assumption of cost minimization. Without specifying the behavioral assumption the curve a cost curve cannot be rationally derived. .

Production Functions and Cost Curves[edit]

The production function determines all cost functions. The variable cost curve is the inverted short run production function or total product curve. The total cost function is therefore the inverted total product function plus fixed costs. Because the production function determines the variable cost function it necessarily determines the marginal cost curve and the variable cost functions. Jgard5000 (talk) 13:24, 5 November 2009 (UTC)jgard5000Jgard5000 (talk) 13:24, 5 November 2009 (UTC)

Dubious statements[edit]

The following two statements in the section "Relationship between short run and long run cost curves" are unclear and may well be incorrect in their intent (although they have a citation):

"8. If the production function has increasing returns to scale, the minimum of the SATC curve will occur at a higher level of production than the long-run cost-minimizing level of production.[8]:292-299 Where LRTC = STC, LRATC = SATC and LRMC = SMC. SMC does not equal LRMC and LRMC does not equal LRAC."

"9. With decreasing returns the minimum of the SATC curve will be tangent to the LRAC curve at a level of production lower than the long run cost-minimizing level of production.[8]:292-299 Where LRTC = STC, LRATC = SATC and LRMC = SMC. SMC does not equal LRMC and LRMC does not equal LRAC."

Actually, with increasing (decreasing) returns to scale, there is no "long-run cost-minimizing level of production," because the long-run average cost curve is monotonically decreasing (increasing). (See references [3],[4], and [5] -- Gelles & Mitchell, Frisch, and Ferguson.) Duoduoduo (talk) 17:14, 1 July 2010 (UTC)

for any given amount of capital "that fixed amount of capital is actually cost minimzing for some level of output in the long run" Binger & Hoffman, Microeconomics with Calculus p.292.--Jgard5000 (talk) 11:32, 6 July 2010 (UTC)Jgard5000--Jgard5000 (talk) 11:32, 6 July 2010 (UTC) In other words every point on the long run average cost curve represents the "cost minimizing livel of output for a given amount of fixed capital. the curve itself is the locus of such points and this is true regardless of which segment of the curve we are considering.--Jgard5000 (talk) 11:37, 6 July 2010 (UTC)jgard5000--Jgard5000 (talk) 11:37, 6 July 2010 (UTC)
Maybe what you just said here should go in the article. But the first sentences in 8 and 9 seem wrong as they currently are, because e.g. 8 says that in the downward sloping region of LRAC, i.e. if the firm is operating to the left of the min point of LRAC, then the min of SATC is to the right of the min of LRAC. Duoduoduo (talk) 16:06, 6 July 2010 (UTC)

The minimum of the SRAC would be to the right of the point of tangency between the LRAC and the SRAC curves. --Jgard5000 (talk) 18:36, 6 July 2010 (UTC)jgard5000--Jgard5000 (talk) 18:36, 6 July 2010 (UTC)

Thanks. I put that wording in. Duoduoduo (talk) 18:53, 7 July 2010 (UTC)

your wording is superior to the original - in fact the original was just plain wrong. i need to get more sleep. thanks for the help.--75.201.81.37 (talk) 19:55, 7 July 2010 (UTC)jgard5000--75.201.81.37 (talk) 19:55, 7 July 2010 (UTC)

economics[edit]

1)under what conditions in the short run can a firm earn economic profits? 2)when is economic profit possible in the long run? 3)explain how conmic pofits differ from economic rent —Preceding unsigned comment added by 41.72.221.50 (talk) 15:34, 26 July 2010 (UTC)

Proposal for merging "Long-run marginal cost" article into "Cost curve" article in a month[edit]

The above proposal for merging Long-run marginal cost into Cost curve is discussed at Talk:Long-run marginal cost. Discussion is welcome there. --Thomasmeeks (talk) 18:55, 8 September 2010 (UTC)

In preparation for the merger proposed above, below is information about the article proposed to be marged into Cost curve. --Thomasmeeks (talk) 20:04, 8 October 2010 (UTC)
Above proposed merger completed. --Thomasmeeks (talk) 13:07, 9 October 2010 (UTC)

Copy of Talk:Long-run marginal cost[edit]

Proposal for merging "Long-run marginal cost" article into "Cost curve" article in a month[edit]

Reasons for the above include that history tab of Long-run marginal cost has a much lower Page view statistics than does Cost curve here. Why not give this page more exposure? The history of this article & Talk page can be put on the Talk:Cost curve prior to moving. Comments welcome. In the absence of a consensus against the merge, I propose merging Long-run marginal cost article into Cost curve article in a month. --Thomasmeeks (talk) 18:40, 8 September 2010 (UTC)

In preparation for for merger per above, here is information about the article "Long-run marginal" for merger into "Cost curve" --Thomasmeeks (talk) 20:04, 8 October 2010 (UTC)

Copy of current Long-run marginal cost article[edit]

LRMC is the minimum increase in total cost associated with an increase of one unit of output when all inputs are variable and when input combinations are optimal before and after the change.[1] LRMC is the slope of the LR total cost function. SRMC (short-run marginal cost) = LRMC at the long run cost minimizing level of output.

See also[edit]

References[edit]

  1. ^ Sexton, R; P. Graves; & Lee, D. 1993 "The Short- and Long-Run Marginal Cost Curve: A Pedagogical Note", Journal of Economic Education, v24 page 34 Win.

{{DEFAULTSORT:Long Run Marginal Cost}} [[Category:Resources]] [[Category:Strategic management]] [[Category:Project management]] {{Econ-stub}}

Copy of Revision history of Long-run marginal cost[edit]

18:49, 8 September 2010 Thomasmeeks (talk | contribs) (1,252 bytes) (Template at top for proposing that this article be merged into Cost curve; see Talk page for discussion) (undo)
08:59, 2 August 2010 Thomasmeeks (talk | contribs) m (1,211 bytes) ("Long-run" for the adjective-noun used as an adjective per Strunk & White) (undo)
08:54, 2 August 2010 Thomasmeeks (talk | contribs) m (1,181 bytes) (moved Long run marginal cost to Long-run marginal cost: both the cited source & Strunk & White hyphenating an adjective-noun used as an adjective) (undo)
03:02, 3 July 2010 Duoduoduo (talk | contribs) m (1,181 bytes) (add link) (undo)
02:57, 3 July 2010 Duoduoduo (talk | contribs) (1,150 bytes) (clarifications; delete misleading sentence) (undo)
00:29, 18 March 2010 Mattg82 (talk | contribs) (1,181 bytes) (Changed tag; article has a reference - Unreferenced articles project) (undo)
21:44, 25 November 2009 Jgard5000 (talk | contribs) (1,185 bytes) (undo)
21:43, 25 November 2009 Jgard5000 (talk | contribs) (1,192 bytes) (undo)
16:15, 22 November 2009 Jgard5000 (talk | contribs) (1,186 bytes) (undo)
20:25, 19 November 2009 Jgard5000 (talk | contribs) (1,126 bytes) (undo)
20:21, 19 November 2009 Jgard5000 (talk | contribs) (1,130 bytes) (undo)
00:29, 18 November 2009 Jgard5000 (talk | contribs) (936 bytes) (undo)
12:26, 16 November 2009 Jgard5000 (talk | contribs) (865 bytes) (undo)
18:46, 9 November 2009 Rich Farmbrough (talk | contribs) m (631 bytes) (remove Erik9bot category and add appropriately dated unref tag using AWB) (undo)
15:20, 12 September 2009 Erik9bot (talk | contribs) (605 bytes) (add Category:Articles lacking sources (Erik9bot)) (undo)
08:56, 30 July 2009 Per Ardua (talk | contribs) (556 bytes) (wikify, cat sort & stub) (undo)
17:43, 25 May 2009 Emperorbma (talk | contribs) (473 bytes) (uncategorized) (undo)
14:01, 1 May 2009 Rashid8928 (talk | contribs) m (441 bytes) (undo)
13:57, 1 May 2009 ClueBot (talk | contribs) m (22 bytes) (Reverting possible vandalism by Rashid8928 to version by RussBot. False positive? Report it. Thanks, ClueBot. (686762) (Bot)) (undo)
13:57, 1 May 2009 Rashid8928 (talk | contribs) m (empty) (←Blanked the page) (undo)
19:06, 27 July 2007 RussBot (talk | contribs) m (22 bytes) (Robot: Fixing double-redirect -"Long run" +"Long-run") (undo)
07:10, 4 October 2006 MGTom (talk | contribs) (21 bytes) (redirect)

Copy of Revision history of Talk:Long-run marginal cost[edit]

18:40, 8 September 2010 Thomasmeeks (talk | contribs) (738 bytes) (→Proposal for merging "Long-run marginal cost" article into "Cost curve" article in a month)