Random Fact

In 1990 the average price of a gallon of regular gasoline in the United States was $1.16.

Unit 5: Cost Functions

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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