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Chapter 13: Production Decisions in the Short and Long RunAnimated GraphicsEach graphic opens in a new browser window. Note: These animations may take some time to load.Graph 13.1ab Short Run Expenditure and Cost Curves Voice-Over Graph 13.2abcdefShort Run Expenditure and Long Run Cost Curves Voice-Over Graph 13.3"Shut Down" versus "Exit" Price Voice-Over Graph 13.4Output Supply in the Short Run Voice-Over Graph 13.5Long Run Output Supply with Fixed Cost Voice-Over Graph 13.6abcThree Types of Cost ChangeCost Voice-Over Graph 13.7abcShort Run versus Long Run Supply Curves Voice-Over Graph 13.8abcdefCosts and Input Substitution Effects Voice-Over Graph 13.9Changes in Input Prices and New Profit Maximizing Input Bundles Voice-Over Graph 13.10abcdefghiShort and Long Run Input Demand Responses when w Increases Voice-Over Graph 13.11abcdefLong Run Input Demand Responses when r Increases Voice-Over Graph 13.12abInput Demand Responses when p Increases Voice-Over Graph 13.13abTechnological Change that Raises MPl and MPk Proportionately Graph 13.14abLR Cost and SR Expense Curves when f ( l , k ) = 20 l 2/5k2/5 and kA = 256 Graph 13.15Graph of g (p) = p ( p , wA , rA ) - pkA ( p , wA , rA ) Graph 13.16abChange in Cost Curves as w falls when f ( l , k ) = 20 l 2/5k2/5 Graph 13.17abProfit Maximization with (a) b = 0.5 and (b) b = 1.1 |