Production, Costs, And Pricing

(In Macroeconomics , production is measured by Gross Domestic Product and other Measures Of National Income And Output .)

ASPECTS OF PRODUCTION AND PRICING THEORY

Production Theory Basics

--- production efficiency

--- Factors Of Production

--- total, average, and marginal product curves

--- marginal productivity

--- isoquants

--- the marginal rate of technical substitution

Economic Rent

--- classical factor rents

--- Paretian factor rents

Production Possibility Frontier

--- what products are possible given your resources

--- the trade-off between producing one product rather than another

--- the marginal rate of transformation

Production Function

---inputs

---diminishing returns to inputs

---the stages of production

---shifts in a production function

Cost Theory

---the different types of Cost s

-- Opportunity Cost

-- or historical costs

-- Transaction Cost

-- Sunk Cost

-- Marginal Cost

---the isocost line

Cost-of-production Theory Of Value

Long-run Cost And Production Functions

---long-run average cost curves

---long-run production function and efficiency

---returns to scale and isoclines

---minimum efficient scale

---plant capacity

Economies Of Density

Economies Of Scale

---the efficiency consequences of increasing or decreasing the level of production

Economies Of Scope

---the efficiency consequences of increasing or decreasing the number of different types of products produced, promoted, and distributed

Optimum Factor Allocation

---output elasticity of factor costs

---marginal revenue product

---marginal resource cost

Pricing

---various aspects of the pricing decision

Transfer Pricing

---selling within a multi-divisional company

Joint Product Pricing

---price setting when two products are linked

Price Discrimination

---different prices to different buyers

---types of price discrimination

---yield management

Price Skimming

---price discrimination over time

Two Part Tariff s

---charging a price comprised of two parts, usually an initial fee and an ongoing fee

Price Points

---the effects of a non-linear demand curve on pricing

Cost-plus Pricing

---a Markup is applied to a cost term in order to calculate price

--- Cost-plus Pricing With Elasticity Considerations

---cost plus pricing is often used along with Break Even Analysis

Rate Of Return Pricing

--- calculate price based on the required rate of return on investment, or rate of return on sales

Profit Maximization

---determining the optimum price and quantity

---the totals approach

---the marginal approach

	CATEGORIES ABOUT PRODUCTION, COSTS, AND PRICING

	pricing

	microeconomics

	production and manufacturing

	economics of production

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Production, Costs, And Pricing