\ S ee - OL 4040-2082 1 oy 925 Leflore 04. aN X ogi PVE No orc. aon dotibl vt Cad preliminase conceph oF economies, > vay >". ato} 4 * principle... oh, 5 economics j 4 OAS EDSOS ACL \ \ "\ Wy \ Fe Pomamits ‘2 | } Begpat obeoiHebo AC p has te economies’ ents oF economy Hives M Seork nal and, dees ho saa vee Tou. 5 Jape ast oppor nity : \ de Level obs, Zeongmnies, adivities erwid a5 OWS elit ; “Banari Spon) coplaik «soil ecommy cle i: Bi A) overaviens = mlerco-economles. macrconomles we a | Leste {nut - Vator pe ob economy 5 . aed ens oF Mecanan 3 ino, yy, Ee 101 ort bee pags septa ell ane pote &. Businessbirem /, P cere / Selle wisiies opt 3. Ccovercn me \ninimize or yo wey Pio lon, -ersune 72 Okthe poopk. pont meat ; j we 2individual sooner | bt reso Totes => Income, He, % ener : Isr (5 OOF) SOY * Dancap odrin/ at” std idsurctld”™ inpul / Fessore ob- pron hb :baboort cg “ge V4 bate Ts. 4 and, organi lo * Coweta a oo f spe 608 raven, 12. aged me the Banik tap, 2 inte) Gi |) Allercnadive vie of reesourcess > 5 EP teal vse) ; Ob . Tes ounces . 1 J “ Eom a ae ceeperh “blcrh oe ob 28: ont ta. a ae “ppe Ic a Meat “Vindua, Chie ! _gommeacly oo ly ra\ | a ah ont ge nt ON aaa i ond Sik Les ‘| CQ mm a ny wh" also rendbel : . of? Aeuhys a cusaeh atin ue hak ongsh, wy ‘sh sy i ai) sol * am hearenestty ay aving 4 zg ae iB 4. Dishabe 200204 mer \ LH weilpoalinats _— pecan xolgraa ay ¢a ae ey ica "eal en Lak 2 cont ae a i ere [insole hs _ fat Ps lo, pede ‘ Bo Bp app to BS" 7 la wis Erin sie 8 chih fau/ 2 ams. 2eOParr) "a ato solve E., Pore ene _] | asian « St | a ‘i oft Bg mie. By ele i Qutealah Mieced., Aree shh all Ved)" ie" ‘thy -usbinsehon)- tab. fay oe ch Wie o7e28 NNA\\s\~ 2} Ions ap ae alias oo, a care economic, . pee “a teal 1 Economie preeblern : Koivd Win Vaas Sods ce Geen view) oy TR tall: ‘he GLY DOT | BBIOWN CA a * ; ol vers gp ie shinee 32, a S\ 9083, Sorel is + pied bale chotee: oor, ae dade Recouracls }, are | hiked, call lod ro Ye, people pgs ae OM t Leafs bh ih a ‘ual 8 of “pdt da nd desice, ie’ "Sued “aye “Tat Bardi) Diedrg a reesoupeees ‘ok homie “ay o bel on onliiled wan ls imr& he reasons “taejen valinttid cin the words Hite Dial Mitre will to "economite probit. fe Mosh dois, Me a cas | bd cht lt Is a preble- is = ; a ae valine wo) ie no a he ai he iniedion “abe big *redboutita 'S | ied suaiily\! Searccit is os. behind ek sbore, al ecopamis;, problems ae * wank ts Pecalion, thal & One oo is ie bnofher werrt- arises x le resoretes werce pn bed he atinft: ha He, eas problem, \ ; 5 a\itoowse alee po\iodl ae ls h ne wen pete y nie #, alle ar tell, chs david be mack. by rence and, A preioncity Te % selec te: erated aller vdhv is “calleol cate . ” E THpadi Bo a \ Die 4 Vearcine job achptunlite all o@lt wr “folie | A i tek reesoun Acree usable ad ort nile, pee 3 oat lw has prusabi allerenahins AeT ATT Val 417 ny oe ciel Dragream ait economic: poten 9 Bcorceity e Sa = SP hthoenahie Use ol — + Teesaurctes ' Pe poxng Preebarcence a h Fela OS { = \ 10m | ‘Op |em ae ie Eeofom le es Prreducton possibili cue (ee Pibtpeko mars ob PPC Is Preeti ve etl ea qr OU ir fader ae iY pel ‘co Ne. Di bich iS the combina’ ok the~ peaoition f pa "Diaed® with o hicecl quabtity tk teesourcees by2 ee Oe SRE © 5 , make pga ois ml sam ple we. A use ygogr -Flort - An 1] aly oe Aga WY x commodity y coool N ‘ehbinghi88 ‘ oO 20 40 Co go jbo 1201 140 (co A itiicianog oe > ‘egies apperse? 4) UI tiempky reo \ nal “rally os [380 x Ayost ee ‘bes qeeprestir Pen er ° ligt nore The spelt \.4 si the ae “ip TOE... etter heap: oe oe fanaa pend brett) St oat at , ‘Npblowdag\s aS AG A commech® hid YAvhRoup ks sh aN} 9 4 havc a) CHOSE, a ans weSo Wakes S ») eahiwns/ eth neleny Use) 7 sh 2) a ee ] Economic Booty “al jitiehi ee "s ol- 5 | Boo posed ere ip pee Hg oi oe sa, | 1) an pide gh 8 wolf fal sens Hats YRS smoll nody hiking Aas “if Recession a — . i el tas 2 poclot By floats Yat leas ON Sy ANB | a ogee ALO “ee sYsv9 aug fé “fidein vibe a deatlrate —— $s Yates Modern lapbreoach thet gh hel. by pa n° ‘Bley Ireeo, trctercia. Aga the d Ha. debi Baath he es $5 i Be “a kee orttees, ecavse _Teesobi ie ac ap \ ev— A Figlndin ob aha ts poe yaye i" re ad A + xs \.33 misuse ob— erat ‘i 4 / OFpo! 4 co. 5 i SeTu preedvel- hed nisl 1 Ce ch tile eo ou eh i A st yea duped ent: ‘ eo ; ai i ‘ i’ Tre a ee then Inereeaa In he preoclecl 10h, Some dain wnif- o- One commedely Pel + d my Incice moree ee avob her. ben wlth praodyels\ Sh: flee A G19 1 ob @ commodity. ig ni + iter, deca Whe? ccleereh "A Sacresffoech F ke dora crc rted noord Is oie ie Y Weer! lo, ot ie SE sted » cea A) \. ARAN ca atid 3S Kenna » Na igs av f g () ap oven 7 . ee > j oka Je cag Owes Eb Neant gt gain) \, a (\ eh a oly = NN ‘eiked < waiter t way see % when dhe ead oe pra calng he * pe § mraking the nen} YR als 18 Rh + ome Pew ’ “td owpreccloat gn | wwidag 4 one a . oe cat to Prochine hse aeihonad good Jncrteases 4x pailnivoage. olrete Eee ee ee Demarl,. | iW a * Geenercal people think coed ‘te hang sh A : Nae got mack sien A (HI al obi tes ON 2y0 ob ae D fis wl yet ath vibe rho a0 ne 7“ i wih ness = en a Or onde \ Dun prejee' a comma “4 + ak noes 2 ababed, pres id Darnendd dependen’ ne % fea Cees D A ~ Si VWarctable “Sica theagthe, IF (ar Déman a9 iE Deh oe bemanel. aI. = 2D Fashion > new PEM | - a ¥ Le owl thitahess> fle nay ae i i . , » } ts ey to, bane aft c “ae ee 1 25 poh 'ty Be a = 4 bibs egnet : " tRedessiion —>yneome\ ‘gee he 9h ‘ioelhadaee ob [han sq denen, deel Je) Speculation -> ram (BBA Vswe ok Doron 4 Pm ico, = ingame, fx related yp, be "Sa. ds i we . . AO, Y, a (—) bon Ay tal ¢ f pts, wo COhs wt we = Ae’ ke Ka say bdereen + price “oh Yih \ and the quot ges ead (ie relation ) (tit Incrcoase Pera deere hy L elbverl they price ok a coimigdity, suenk P cbetnidea -assymiiics call other oTes afbodg oni weal Nay mekart oF mn Aol whan he preiee rg gre “fall, ‘the Vmicich he ‘aed rae Tid 90) \e wha ee. | ads dhe demand ball b ; Tee Gfy Did =) ‘ ) ex 14. (oe Det) | 3 Shr Dd. | 4 _peyyal PL ow a# ‘Female £D D ie sb the % BD Curve and Laty ob. Deming’ 2 expr hs os Ae ie) ” graph s p (nde Wee \ oxiy¥i We Sisod \ Hoot to> fo ioe pe e@iene” ee et eae Wy OF tes0' fata ae 33h) 9) pe Poway a Pe oy, bw, 2 ete: ty 2 ‘B=, aga ia Lae “bPatrtooat ba : ape ae Samant a pI Slop. sos ath i PN 0 be by! oD Neon) we ctttecaeth Law ob SY Bod B ac fepprtascared sly(09 Dy oo |rH SUF. | Ya ot we jo hol Saye Bin bependanl yarcable | Sin in dipend "1 vorctable = we = AY Sean's) = Avert dia 8 i Boh vA AMorci Zontof distant ce be b 7 2 Of Opy it, et ) Om Pie | » L9zte i te dinar curcVe. shee bok. | ing BY at ve Berd a Pre, (pe b, Alte at f 0 Sehedile “8° ** ies v th punand ave hy Seerdityldady Eo sapeCasvmerd | consymac!g” | consumers BOR Lge % Te whngy BAAN A0sey5 ae leeh shad of =| ie SVD , fy \segy I 4 u : a a d der eaae:sas ob be im hed f* ph ae al ep baclore oF pro Abdton “deal: His, 78 ‘py anoles ol changes | ih derare he cheng mn ay bnafy Ard J\ f irvolieg Ae roprieal i opts whebhere # Is chatted bi canes : ce] ak ey b EES Ay np th Prs® \ 10 ea Blad ee OSES NA \ pure, ) Pololed sind eas oaks ee prior ‘ld bx XE ore Leal TEs: go in which oa I sor rt > pid Shy——__S sts Shope = dt h ye yarciable u ay, 4 5) din. « Trolepenclent vel in| BUR thee = ¢ inydlemnd a Le Zh pel 8 SRN ~: Ee oi Ia pride Oe ‘ ah le a \ at- “i Ipprtn NF 4 stints \ toes Pippo ca ; : Jeoky 1 4In ‘ji hs i took ‘in ple. poe ‘ nhl pens oP, jh ras Re . = AR \ oieees | prdlee> op. 1%. Wee’ \ i p oy i ol ind ya 2 le san ‘ane ito Nalin nial a vr 4s shossh ny ly la N3. deli Pore bus ) 2h) (60 ea phe are “thed "hone dleman \Oo 7, andl, pone wd ye as wags & Ww ae i gdh Put ae eet x Ay Nas j fi Vbmool el, reve ' po m pm at pment: ‘2 arg Heats ‘pen ao ¢ or Pe oe ps hy by de —- = Gy | e sehr nr ae "A With ok the 9, a ‘ia in Pacel “ated ool fin Ga edt 99) %g ab om iV silly epee —— ac atmo gods ane chbineel S pai ob ges Hin 0 dea Cpooel tnwhirh each ean be vsed a y ingd ond Hy w altennechiveh, , / replowenens} ie aoethers 708Fh sesge'y pe aia Jena ohlg ob fi i lee fa files indoped. iy a “he 7] she ne | yy sels A iv ii / 4, Varupble, are : SBOE atl a RPIPY= ay fap * to ihe iy | a xp Hrd on sl sili “ain dep wore hemes Sai a4 — ¥ i , NW ANANS i. it pes ay | Boot, he Dla ul _ Sah - fs G0 poe se bear tM Poy. a \bouttyaie ae eae ae beetle Be etree oe Sonus See a20t Da NYee abe a, 7 tht ebrhcihy or Demand rnd el ne al aie fe AV fae ys M4 ngivdll Pr —____= with |g Ms. Belo 6 Ty a, X_10° = |@ LE Og 7 Frere ole rls Ee a a Saag re uF ah: d nna obsdldes sa da 76in Pnaome ' Liat, he x rrmak He or) inberclo. i eee ity \elastic Tor ‘lie geil ( \piattess! 3 re) ey = . fre i rir pete | a kind aaah om a ty (Pate Racket,piferoen ce Ch, Ehachie “avel grebstic. Duran,” she a E ; iinelech's yam demand ais + a ‘. PA 4p 7 anda 1 “Lan 24 in paadd re? 74 pee ” — Fe D - [00 126 els a a q 207,Ee, Te ws ee J ac: Qerond _. Forcing, ob preiee, oleehteily * oF, ian Vane : : vo Ep: ha hop he t ) fa ;, “4 inp Leon 205 24 eit |” . Lie = fz : e Tri tol ie o ie re I. Be 3 a re sabjribe Ko i o * Damon 4 eh eral fe co Aeon md BS, Ais he a 2 | 3. 5 Yodel fncomé ated ve | Z C20 = t ne cd od. x Ut whe wnInerease, , f | A Yah a " bts . J De 54h bo i onl Frey nee trerezase then PP olSind ony \ pretee of pod | aed ob- eta cjeod | \ & chinade J Tele Navan masif> (1 ag uch a Le "| rescluclior, ay * Supt ge SUP. P| %, i me 93 oreve ~ o 1, 7 $, odin n how .DP Weby ) p z one sng O Zs eyes | W growing cf i ay poke J vi ore, Za Lyle, | aide gS Lehre . 09- Ni “ae, B Egil baton zy monde ap) Icio ef a cgi f noch agers ‘ewil silvobion Cober ca hug « 4G, Z posite —foree 8 irbercash cal become qu otterc: indercas ton, OF sash oben and. fas S ‘sthoation. No tordensy bet a) tr 4 Eqpililzclom proce The. preiee at ahreh : Des Equi) rch guarhity : Te golly at hich,How equ) fi chum Is, ' 7 el ve : 2g (nah Domanol ceurpne (1 Yay cambrnatlon 06- SSO 1 GO pe E qu breiyin pret preite, sted YO 4) ny ae Ad cxensed \ia altained fd IW Ay ) / Sorby bing) anishod ue ce preice sOENY Ook Ber, Noy alk Zool i mest! coh vy seal airy at com dove b na care any NT (WO MO% pa)b= a-bp = cd 6) Pes + a ’ fibres pris ' 0% a-bp= ordp ‘De Eq . \ \\ . / wo" bprdp2 azeinn T pales fpsinl wot Bh ht meee kl tl dy \ 1 ), | On} pxs bd s \ | 1 — . \ $= \c+dp | | im ry = A ivos Preoise yp Decioae an ins remaining |.) confer dse fle a Pana cee ation, BA | ptondled dilly, ace 94) fered od, Gs Conf ae a 2, a > cost( coal ct: re cone Vaxosragl stn) pa ree ali ld me oul |2, ———— AA 7 Te Ox SRA! expen) ‘hae Melhiod) pe ' - L _— 0 oe csc OF Ves cer olel pee (, omy Iexishalren ob li ee “ “nde wing” en TOAL | e fraps Catedral, oil Ty a rll eth Iiy viele rel Mohsotal ulileh Mare ina! ie yo tt, magi lily oll “The p poeere Of abil} py! pill dhe ay aie pron 's allel. op, gf reefers te — thw Level” yp abdul a Consumer (9Ai§ assy ay reesulhab- crash, ok al Epeiowee i comm od 4 nt eo a cored ri a {avon = Panels Ci it stares We otal efile sy y) 4 Jetel only 2 “spe ry re y Ve a -\ a88 . al ast svoT) ath ators aang yee ae Lie Page [3 i (PHootirp Y \, ‘ Tocrstt> = yt e beccry alggoio- Iles AL usplad a, St! riszastqsy Notus ach ate. 5 i Hes CREO | savas ay VU ats, iS zeTenrsg r _—-|sF0q sbooidbarra sh Zee Jo | stott vant WS alent gO yalgy watsLeslyreo- 0, “i Consumer bohaviour, ' cond Fama tilly con bi ; ert mmearaable quer fiahie by ritrcleal ete = naar coin ye by number. bot+- j : i Pre: viii The: Powers! ore abil iy fa aeroonmistly 4to — fall I He’ ‘Dank oF consomerc Is callecl otil bib ns : ore, ft teeferac, sp the _evet ok: peaely aa 4 a Consemire' ‘Goins eH oo 2 neer eee, ean Law of- Dimintar'n marey inaltly 5 rhe addin sae rc hr ona, (tility) which a person dlerciwe bore’ ewe ad unit Consumed will dining ish Ce he consurms more’ te 25 consumption inereease ot mv will alhens tall, T? intially, reach. at modmom , nots will Inereeasi ‘upl fal. The whi consumers eu) el oe spe i (UV .I's..mose:' 2 0 tonckay" ', L gt A singin we ste. “ewe ae web iti soe P i lod opti a 49-92 | 1 Fe otili Win 7 a OFT ras) yf i Lay ea i en fotege | wont | Bo until 30. a 1g] 2uniF 4e oni] Is. , g | aunit 97 util 5 t 3x48 4 | funit Zl ofl 4 ee t 4 Fe-69 Po zee= ected ChIP ee! m Spon) o lr} Cansyme est] ba only po ding unit-of- comme ej Ve Fe %es 2% - ~~ en) Uy) = +) 5 Ue fea), ve= + bes) A i n=? Gn) uz Uiex), Ug = Ve[%e) - - - Unz Unl%q) ihidy ¢ Summation of- all individual diblaen ohh is cal U> UR D+ Ue Galr! = reine) a iF 2 Up; Mao chi Atal 4 | ol “i ahs as H od obese. a a oF ee called ao, ral Gt! Bigs FAY “geet epeePe hy ciny = prs Pe 5 A Darvading Byo\~ “Doar - ‘a ok Demand of pmu We? RS Nasccdtbuales “Tie i) 0b Sins chim inishin by ade thef - as Conve) tetas carmyin mas" ‘rads Moree oe As, ‘teeplecal Brawye she od Mc, 8 ei Jey yy | hpi ? I ndlibbercince,” cypeven) bSarte con cbiye ore rH nes = anomon te cutomany seabol oft” yal “bo ‘ a rabectada dh ‘Is, he vould porcchoae: ona cbhscme ony one ml we kt Heeb hie by perce In ‘acbal:verll deg ruil Porechogs. : ein nel ‘s a Reoy cg consume: ‘ong. ot Is ore the Tiehive tho we divearcol Te curcvt3 oh * sdeneare: sel ore tray, line shapis ond. ee thes: Tc CURVe$ — arce Goelly., Gon veo ts rian : Be ie \ ae et \F enn ca Te i Pr ee seach other 7 bf Ai NM “Teg _1 | iy ad.) yore The Fo ihe till si shen ye a 90 WON 2! at Me. Pend. ik Ae, oe Ube Ay here Joumue will as Oo’ Much as ok the eee aie opti: ‘yd. aa Wh, Ee ve sy Ds, Us abeaged on impossible « 4 oi ao fag AP ¢ Fg. IG. 012 sects wohieg. “1 Othere of poiok b Th. Cos Fee preecon| b poins. B and: of Ie equal xh sbactiby. AG Phe aiead ‘becivse both Leo mn the, FAME. Te, Tey? Bmilargy’ el combined shoo: by. pang | “p ap - ‘indilfreince turere Ei CA. Give: ‘2906 Sct iS bein ope « consyine re . For Ie. =.E stn pe ia tidus oO Tea Be °F } Bt er pr go Te canna Srtergceae a) a 36 previles highs slfeston hie fer mu BMoN Xo JF @ consumerc shibds ie point Aad the t hannibal shit Magee & es ananl oF comedy. 4: Te sme goat “ob “commodity threrceosds \by Ab and. the queml ob- commodity Freemans Iha.r same: (Ys), jhe he hitle pat 7 A to Boas a virehea)->Ashihil heels tone pnb Prwaliiy The vanity ok comely sprung #8 and, be quantity ob- Commedity X temain ine When Consumerc ehitts brcom pont p-tot gonal ohitt, he gee an additonal quantityF CC SEE EO Bb) pit da ie nol eorhindalitley (xh) y aes iy a, oh pb Ue, ANA Cure Ye preovicles higher sofishe chon, dha ‘ d lew ere Ie al | Te tinal Par 7 A ’ ae eS [2 map , ie hex graphical reprise, ob ua : tuo. ore Moree , Inchipberexnce curcvey showin the os Oba dA 5 4 Ombinechrishs ok apni qvendities ab commodity \ ¥%4 AM Wo Tee : soo) | 0 Bal Ines edt In lus, ln od i ol Jae joeds, cubjtohs: ae consumers can, a tain’, gin Hie Income’ and orcked pte ob the. goods. i Sy pero AY ve LE ee > Anavithbr ab ral ay : i Le" ————————leclurze—a @ rhe a AiFercence curve fnaly sis a Be linos reekeras to the conbinaion | it suo ot Aiven the “Specihic levd a inasme' onal! “ech prcicas OF Soh Ge: Sposa , , we have bat fin aone ATi = Qo atk: Ye 4n% : em ” si = \ iy Tosh ORs ay of Wy dy ahicd i \ here’ nd 20 any \ ok atl; wt ei mae\ dhe! ena ot concumert < lak ll fest ho femasaaatl yt Ql Sate Woy! i att Mie Pes Re oc ig epipret ye! AN grant al 6 A «Bast: ft Biz. | \nvibn old ) th agi re ate HE chocur gt! Lo, da = aly a 2. i 2 dep 9 teeHe 4 “oe In a ond be ‘ pay (oie) : "prea ae DB oly Be BT =) = % > = tage | | ace I's a. jchenge In. ineomé vokra consumer but there: Is no change hh teelati\ve profes on the tue got the bdgel: bine shiht- pevcaletly Nes het loccc jon sh dhe’ neds hd | lo uns porcaliel. +0 nal one, | | when dherce Iz an Inerceose In Proome vd consumer. a | buy morte ol both’ ‘goods and" bh, sh Oo | he repghhuarel sibd- in the Bodget | Me. ‘on a | when thace ds ‘a -Hecicoaig’ in income! | the oncomett mee pers ne techs, ‘nd hes bidet ling shi Hye bevyshits “okt 4. change in prekee > SAG \ nt e “3 cra! “dere e& D sayy tn the price of— commodil en x on, nye PR + LN deeds De 1 =. $0 9 ineaceasé a obese mye BLY)! | | B 8 «Fig () S ssier MY when dhe price x gods ‘hls ‘Yh newt bd ‘ne ts a preobit- ts 4y ok Grey \ reodbecffon em prele inh cee MM \P| SS ———— *2chiivoue ok Prathctiony ot may be prodoaed ving Q 7 nV9ue, Hee empleys My labours yee Lercranel tb ie a |} a ad 7 : oo 3 to, ‘aboure intensive clechnipue , ort a copra jiensiv ‘ ©, nloues, wherce thachy, -Wnearcterp k ery anol techoelge ores = 4, 7 Boo ee , ke cure Ste) he ayreve, Cakeoer® frkeneive 8 othe 7B. wy / .* dill is a Lins when Pere Is et back! one Input remalns Consland- _ jasc hs stores Ee oO =f C2) . bone runs Is the period aahen cull inputs are varadable, g =? Des - : awit 89 ~ Shora Yun " 4 _ long en “Peden The binchoral | debins Th Hac eos teelotionship bekuesn inpots belewesn sips ancl ectpets a4 andl output ob- a commodity emo “ longere fe bent a shored perabd o6-Hime.- my : 4 is also known as the yariebyl ft is ite: hacen os a Ted Prpertion ype ob predechen | Preparction type ai mine produdion Eynehion ie =| ~ ? el cy ; ¢| Herea, oll the boclores ob freeduclion once yorctoble aclors, jeree, copitel is sesumed) 12 the bired boslor andl heute 08 F “yordoble bactors ; & ae MED L Genet (tk ma eee ba ole varelte praperetion Low ‘ob- realy, Li ‘Tso-gia: combing” oa ine lade ob prod tht puedes 20me orhecl 4G pe AB oye . FEDS 12 Ky , : 6 kk Hs ph 4 # choreackereicties pee - Po (sam 05 10) ge -peoctost fsome 08 bebe) sf ? CS consymet ) 4 pradvesrc’ equilibriom ( some ko ; heHeed Focdoe : The Laclores ihteh oles nol ved SS th ‘ovlpef. Be quantity & output fea: Ps €allec) “ The amount. ob whieh bachores remain Concha tied -facor Variable bacloe ¢ “Thy: lachores whith cages change In ovtpot . Is callecl. gran ife bactore., Lso- ceet- | hiney Dn a es ol lin Is a corcve which shows Varclws oy binations of- ipcls haf cost the Sime total amount. Bort de tbe _preeduction Inputs loboure anol copra” ‘wilh Bed unit abe costs ob- the inpehs, the Bens} coreve: Is a angi | fe, (fete a TcUN [Shore rem ase] . - oF vareiable eed baus oboe dow fee ere LOO v iran a realoreng Decreasing Crten} reatorens (Secale es Bel bed when “ po a ae baclor, spade Ie Increeaseg|, while kesping batters conedam- Pull : reesvll- | Ve dechhe i al ml ae prod at tel brichr:vain ob TeeHTEM S de Scale: Reloreng te Seale teekare to hx, Loutp reasponds “Jo an e2quipmen|- chopge tint “input ° VR tnenes , S CH oe yy { nereosing qelurene te Bede « Mn Inercease In inpet will being onal thon proportional increase, ty outpot (Figs) k od Fig@ os) Biers, Decreassingyeetvrene Ae Seales “cohen all: presdudgon yerclahky » bree inercobsed by “a cetetain ‘ perecartagys ~geosulting Inti ® = Je if 1c aa Ke na ol] F Coston - reefure st. Beales P&conil at qeeluren TB sepbe_f) when Muceose in Bipot sre m QF — "tree ob © Vat ableo proportions | A \. 106 ‘1 I \s Ne M yep" we peng i he ee “eae eh Bite 3 78 recta.. Gg ; infereseehion es ae rh Naeheas + ict Pes qafercsech Ac Is: U Shapeol) yer iscaee oy AA\ oON ni? Me We) v cette /p2s ob ecanorni's3 Ware The U-shape ob Ae eurcve canbe be explained hreough the law ol- vorctable preopordions. Th thd beginéng, with, Inoreoge in output overcage cost balle } Decewse ob the apercetion of the Jew ol- Incrceosiigg reatorans. Ab-terc reaehg dhe Yoinisnorn point, ashen Proveense the oot pot Overcape cost elarcls Increeasin becayss al- the apercclon & the law of chiinishing reebrcng Thos obe b law O yorctable prcovorctions, the foi turevie tikes 0 Shope. rant eye \ Me- (Mareginall cos): Is tha chong in dhe’ otal cos} tha that: are '529 when Quewttt prodveed Vs Inevement-edl, the Cost of prodvaing wddalonal quamity Mccoy \ *“fy When me wo aa + Ha ab he ha vee Opin Size he “Ue bem: The chim Bree a. besinass. yng, “teen sul such a ung: thed- ios alll He. . Lice ob ' prodclin in on foleal ferchpin veh thes, the Factores ot producho Fe untleol 1 m ach al Manngre™ “thed- Mooc'mum predyction: ts){s achieved | vat 0 ER PoE, Cos w : "4 “fejpenb oF hast run ds the, hy rut Ae | eds be \ t bai vo ra 454 Oo "oe # 3Method of Meosurce ent ok naa. toon -exepreession le of on 4a sen dobahe 64 whedherelo Include ov v i é yet -exclyde some, items [ cn Income: Expinditorce a \ meted. | , method | method. “Toll moni —Totol sumo Total sum a the conPexp, od oh, lhe invest fabio [se] ioe [ene] [Ne] [uP] Bo “GL proodudin “ inbreaz = |2te+ 20420 Pz prdca F cf e i A py ley ep Do = GOT! ‘ola c BAane, wp 07 prurdud ion, Mabal Oren HT ar o bs, oes * Wl Peer ; se ah bomdoroy tly, 4 \ ey Irae oh iy sg 6 Malina) 0 Hort: yy “fl toile loa ¢\ aor y rely, NAeodder aap Wana 9 =! Lae oi P+ Woy 29> lag cron = Montes Ig te AF [ipeoige y bot, A i ye \ oh 1 4 ger, is belivcorn { tay ty aldundy Ae EZ, gilkwanes seve a ‘dhe \ ee hs gone! Shay hh + Bae ~ fon Cail come soi yy, Pere ecole, income. =, a he pi polation _boieh,. te os a or my yeti xl0o- Gevcourth reofe of ; ae cap Prob ‘Vos NE. soppy xloo ANE My ped? Ne adsy vita { viy A j Lob > tnppaseidi | he off ii } py Wa ri ‘ 5! 2 * i j @ mr “6: inde, ) it eg. 4 Pree ob Lpciconll Yar, ‘x [io 3 ah a Ph ae Bi Beaten HP Mss inde’, Gen ye oaTes hin. rceg oben te rae _ I ‘ ee poe ha 4 Ie WHY os Ly | aly ee ae o § NPA: Ry \ a non forte rn Nos 8077 Nhe pre ob hose yw lagtk prelee, ey joeq | dh curcren| Ys putices ' > tort Th