Random Fact

India was the 20th largest exporter in the world this past year. It was the 12th largest importer in the world (CIA World Fact Book).

Unit 5: Cost Functions

Introduction
Section 1: Explicit Costs and Implicit Costs
Section 2: Accounting versus Economic Profits
Section 3: Total and Per Unit Costs
Section 4: Cost Calculations
Section 5: Cost Curves
Section 6: The Long-Run Average Cost Curve
Section 7: Increasing, Decreasing, and Constant Returns to Scale
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