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Chapter 11: One Input and One Output: A Simple Model of ProducersStatic GraphicsEach graphic opens in a new browser window. (Working Versions)Graph 11.1ab Two Types of Producer Choice Sets and Associated Production Frontiers Graph 11.2abThe MPl Associated with the Production Frontiers in Graph 11.1 Graph 11.3abProducer Indifference -- or Isoprofit -- Curves Graph 11.4abIsoprofit Curve for $200 Profit as Wages and Prices Change Graph 11.5abcdefMaximizing Profit Graph 11.6abThe Impact of Changing Wages on Profit Maximizing Choices Graph 11.7MRPl and Labor Demand Graph 11.8The Impact of Changing Prices on Profit Maximizing Choices Graph 11.9abcThe Output Supply Curve Graph 11.10abcdefDeriving Total and Marginal Cost from Production Frontiers Graph 11.11abcDeriving the Output Supply Curve from MC Graph 11.12abNon-Convexities in Production Choice Sets and Negative Profits at Tangencies Graph 11.13abNon-Convexities in Production Sets and Multiple "Solutions" |