{"id":623,"date":"2011-01-17T10:35:25","date_gmt":"2011-01-17T16:35:25","guid":{"rendered":"http:\/\/opengecko.com\/economics\/the-long-run-cost-curves-economies-and-diseconomies\/"},"modified":"2011-01-17T10:35:25","modified_gmt":"2011-01-17T16:35:25","slug":"the-long-run-cost-curves-economies-and-diseconomies","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/the-long-run-cost-curves-economies-and-diseconomies\/","title":{"rendered":"The Long-Run: Cost Curves, Economies and Diseconomies"},"content":{"rendered":"

www.bized.co.uk<\/a> provides some useful materials for this topic<\/a>. The starting point is their mind map. Click below to view the mindmap on its original site and in full.<\/p>\n

\"image\"<\/a><\/p>\n

A very useful MS powerpoint file, also courtesy of www.bized.co.uk<\/a>, to expand on teh above mindmap can be accessed here:<\/p>\n

\"image\"<\/a><\/p>\n

 <\/p>\n

pajholden<\/strong><\/a> gives an overview in 8 minutes:<\/p>\n

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Check your understanding of the different economies of scale using this simple interactive test from www.dineshbakshi.com<\/a> (click on it):<\/p>\n

\"image\"<\/a><\/p>\n

Once you have learned about the different Economies of Scale, attempt to create a detailed revision diagram by clicking here:<\/p>\n

\"image\"<\/a><\/p>\n

A very detailed analysis by richardmckenzie<\/strong><\/a> of how the long run cost curve can be built up of multiple short run cost curves. He also includes the long run marginal <\/em>cost curve:<\/p>\n

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 <\/p>\n

This video (with very quiet audio \u2013 you will need to turn the volume up) explains the overall shape of the LRAC (Long Run Average Cost) curve with labels but it is simpler as it does not include the SRAC curves.<\/p>\n

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Now, could you identify economies of scale on a diagram? Pause this video at the start and see fi you can answer it before the commentator gives the answer:<\/p>\n

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<\/param><\/embed><\/object><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

www.bized.co.uk provides some useful materials for this topic. The starting point is their mind map. Click below to view the mindmap on its original site and in full. A very useful MS powerpoint file, also courtesy of www.bized.co.uk, to expand on teh above mindmap can be accessed here:   pajholden gives an overview in 8…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10],"tags":[69,213,212,190],"class_list":["post-623","post","type-post","status-publish","format-standard","hentry","category-economics","category-ib-economics","tag-costs","tag-economies-of-scale","tag-long-run","tag-theory-of-the-firm"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=623"}],"version-history":[{"count":0,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/623\/revisions"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}