cost-minimizing firm

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• Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

• cost minimization — The behavioural assumption that an individual or firm will seek to purchase a given amount of goods or inputs at the least cost, other things being equal. By making certain assumptions, there will exist a single cost minimizing combination of… …   Big dictionary of business and management

• ICES Intertemporal Computable Equilibrium System — affects regional and world economies. The model has been developed at the Climate Change Modelling and Policy Research Programme of the Fondazione Eni Enrico Mattei – FEEM, a research institution in the field of sustainable development.… …   Wikipedia

• Isocost — In economics an isocost line represents a combination of inputs which all cost the same amount. Although similar to the budget constraint in consumer theory, the use of the isocost pertains to cost minimization in production, as opposed to… …   Wikipedia

• production, theory of — ▪ economics Introduction       in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …   Universalium

• Porter generic strategies — Michael Porter has described a category scheme consisting of three general types of strategies that are commonly used by businesses to achieve and maintain competitive advantage. These three generic strategies are defined along two dimensions:… …   Wikipedia

• Economies of agglomeration — The term economies of agglomeration is used in urban economics to describe the benefits that firms obtain when locating near each other. It is related to the idea of economies of scale and network effects, in that the more related firms that are… …   Wikipedia

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• Shephard's lemma — is a major result in microeconomics having applications in consumer choice and the theory of the firm. The lemma states that if indifference curves of the expenditure or cost function are convex, then the cost minimizing point of a given good (i) …   Wikipedia

• accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… …   Universalium

• Computers and Information Systems — ▪ 2009 Introduction Smartphone: The New Computer.       The market for the smartphone in reality a handheld computer for Web browsing, e mail, music, and video that was integrated with a cellular telephone continued to grow in 2008. According to… …   Universalium