Unit 2.11(1) Market power - Theory of production and costs (HL)

IB Economics: Unit 2.11(1) Market power - Theory of production and costs (HL)

The costs of production faced by producers in the economy have a very important influence over the supply decisions they make. Along with consumer demand, costs are crucial in determining price and output in all markets. The theory of costs underpins the theory of supply covered in Unit 2.2. The link to the attached pdf is revision material from Unit 2.11(1) Market power - Theory of production and costs (HL). The revision...


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