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25 relations: Average cost pricing, Barriers to entry, Bottleneck (production), Cost curve, Derivative, Diminishing returns, Economics, Economies of scale, Factors of production, Fixed cost, Hydroelectricity, Marginal cost, Minimum efficient scale, Natural monopoly, Price, Price elasticity of demand, Price elasticity of supply, Returns to scale, Slope, Supply (economics), Supply and demand, Total cost, Variable cost, Widget (economics), Wolfram Demonstrations Project.
Average cost pricing
Average cost pricing is one of the ways the government regulates a monopoly market.
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Barriers to entry
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a cost that must be incurred by a new entrant into a market that incumbents do not have or have not had to incur.
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Bottleneck (production)
In production and project management, a bottleneck is one process in a chain of processes, such that its limited capacity reduces the capacity of the whole chain.
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Cost curve
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced.
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Derivative
The derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value).
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Diminishing returns
In economics, diminishing returns is the decrease in the marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, while the amounts of all other factors of production stay constant.
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Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services.
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Economies of scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.
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Factors of production
In economics, factors of production, resources, or inputs are which is used in the production process to produce output—that is, finished goods and services.
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Fixed cost
In economics, fixed costs, indirect costs or overheads are business expenses that are not dependent on the level of goods or services produced by the business.
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Hydroelectricity
Hydroelectricity is electricity produced from hydropower.
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Marginal cost
In economics, marginal cost is the change in the opportunity cost that arises when the quantity produced is incremented by one unit, that is, it is the cost of producing one more unit of a good.
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Minimum efficient scale
In industrial organization, the minimum efficient scale (MES) or efficient scale of production is the lowest point where the plant (or firm) can produce such that its long run average costs are minimized.
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Natural monopoly
A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors.
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Price
In ordinary usage, a price is the quantity of payment or compensation given by one party to another in return for one unit of goods or services.
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Price elasticity of demand
Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price when nothing but the price changes.
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Price elasticity of supply
Price elasticity of supply (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.
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Returns to scale
In economics, returns to scale and economies of scale are related but different terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage are variable (chosen by the firm).
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Slope
In mathematics, the slope or gradient of a line is a number that describes both the direction and the steepness of the line.
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Supply (economics)
In economics, supply is the amount of something that firms, consumers, labourers, providers of financial assets, or other economic agents are willing to provide to the marketplace.
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Supply and demand
In microeconomics, supply and demand is an economic model of price determination in a market.
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Total cost
In economics and cost accounting, total cost (TC) describes the total economic cost of production and is made up of variable costs, which vary according to the quantity of a good produced and include inputs such as labor and raw materials, plus fixed costs, which are independent of the quantity of a good produced and include inputs (capital) that cannot be varied in the short term, such as buildings and machinery.
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Variable cost
Variable costs are costs that change in proportion to the good or service that a business produces.
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Widget (economics)
The word widget is a placeholder name for an object or, more specifically, a mechanical or other manufactured device.
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Wolfram Demonstrations Project
The Wolfram Demonstrations Project is an organized, open-source collection of small (or medium-size) interactive programs called Demonstrations, which are meant to visually and interactively represent ideas from a range of fields.
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References
[1] https://en.wikipedia.org/wiki/Average_cost
