Cost Tutorial Learning Objectives

After completing this tutorial the learner will be able:

to calculate all the costs of production given all or part of the data
to graph all the cost curves
to read a cost curve
to explain how an increase/decrease in costs affects all the total cost curves
to explain how an increase/decrease in costs affects all the average cost curves
to explain how an increase/decrease in costs affects all the total cost tables
to explain how an increase/decrease in costs affects all the average cost tables
to calculate the marginal cost
to graph the marginal cost curve
to interpret the relationship between the curves and tables