Random Fact

In 2014, Indonesia had a population of 256 million people, a labor force of 124.3 million people, and an unemployment rate of 5.7%. Its 2014 per capita GDP was $10,200, and real GDP growth rate was 5% (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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