Рет қаралды 50,876
Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Define accounting costs and accounting profits (explicit costs)
- Define economic costs and economic profits (explicit costs + implicit costs)
- Define total cost, variable cost, and fixed cost, and marginal cost
- Practice calculating the total cost, variable cost, fixed cost, and marginal cost for the firm
- Practice calculating the average fixed, average variable, and average total costs for the firm
at different levels of output
- Define marginal cost and use data provided to calculate the marginal revenue and
marginal cost
- Discuss the relationship between marginal cost and marginal product
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
www.teacherspayteachers.com/P...
Follow our store on Teachers Pay Teachers
www.teacherspayteachers.com/S...
Look for us on Social Media:
Instagram -- / youwillloveh. .
Facebook -- / youwilllovehi. .
Subscribe to our KZbin Channel:
/ youwillloveeconomics
Check out our website for teaching tips and insight from us- sites.google.com/view/you-wil...