Managerial Economics - Theory of Costs
Managerial Economics - Theory of Costs is a free online certificate course about the various categories of costs.
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In this course in Managerial Economics - Theory of Costs, various categories of production costs will be covered, along with short-run and long-run analyses. The Break-even Analysis and Economies of Scale will be addressed. First, you will be introduced to the costs used for accounting purposes and costs used in economic analyses. You will learn about fixed costs and variable costs. You will also learn about the total average and the marginal cost of production.
Next, you will be taught about the contribution analysis and the profit volume ratio. The margin of safety and the learning curve will also be covered. The limits of the break-even analysis will also be addressed. You will then be taught how large scale production results in lower unit cost and the accruing advantages. By the end of this course, the various categories of Economies of Scale will be highlighted.
This course covers all aspects of the Theory Costs, ranging from the various categories of production to the Economies of scale, via short-run and long-run analyses. It will be of great interest to commercial managers of large businesses. Students studying in the sector of the commercial field will find this course particularly interesting. Why wait? Start this course today and gain a better understanding and knowledge of the Theory of Costs.Start Course Now
Upon successful completion of this course, you will be able to:
- Discuss the Theory of Costs
- Distinguish between the various categories of costs
- Contrast the short-run costs to the long-run costs
- Explain the break-even analysis
- Define the Economies of Scale
- Distinguish between the various costs used for accounting purposes
- List the various categories of real economies
- Explain the accruing advantages of large scale production
- List the various categories of Economies of Scale
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