Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. This mind map introduces Theory of Firms.

Theory of Firms - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

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Theory of Firms

1. Costs
   
   • Total Cost
     
     • Variable Cost
     • Fixed cost
   • Average Cost
     
     • TC / Q
   • Marginal Cost
     
     • TCy - TC y-1 / Q
2. Objectives
   
   • Profit Maximisation
   • Profit Satisficing
   • Long-term survival
   • Efficiency
   • Satisfying Stakeholders
   • Ethical
3. Output
   
   • Total Product
   • Average Product
     
     • TP/Q
   • Marginal Product
     
     • TPx - TPx+1 /Q
4. Revenues
   
   • Price
   • Quantity Sold