Theory of Production: Cost Theory

In the Cost Theory, there are two types of costs associated with production - Fixed Costs and Variable Costs. In the short-run, at least one factor of production is fixed, so firms face both fixed and variable costs. The shape of the cost curves in the short run reflect the law of diminishing returns.Cost Theory - Types of CostsA.…
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Perfect Competition Short Run

Perfect Competition or Pure Competition (PC) is a type of market structure, which doesn't actually exist and is considered to be theoretical. We will look at Perfect Competition Short Run and then in the next post, the Perfect Competition in the long run.Characteristics of Perfect Competition1. Number of Firms There are very many small…
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Top 100 Economics Blogs of 2017

After a successful reception last year of the inaugural Top Economics Blogs, I am updating the list for 2017. The Top 100 Economics Blogs of 2017 has some changes like the addition of new blogs and less emphasis on mainstream blogs. As with 2016, I've tried to include blogs of all topics, political affiliations, and beliefs. I have tried to…
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Microsoft’s Bundling Policy

Microsoft has an interesting bundling policy. Microsoft sells the Office suite of software very differently across the world. The Office Suite consists of Word, Excel, PowerPoint, and Outlook. The suite is one of the most widely used work-related or productivity software in the world.As with most popular software, the Microsoft Office programs…
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The 25 Best Economics Podcasts Of 2016

Podcasts are going through a renaissance and becoming massively popular again. Economics podcasts are no exception. As a follow up to the successful Top 100 Economics Blogs of 2016, here are The 25 Best Economics Podcasts of 2016. These podcasts are some of the best podcasts you can listen to online.Note: The podcasts are listed in no…
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