Cost minimizing input combination and productive efficiency Microeconomics Production and Costs in Product Markets Cost minimizing input combination and productive efficiency Questions Does opportunity cost change over time? How does opportunity cost related to the problem of choice between alternatives? Why is the average cost curve "U" shaped? Can the average fixed cost ever be zero? Why does opportunity cost include implicit costs? How does inventory turnover affect the supply curve? Can increased quantity demanded lead to a lower market equilibrium price? Production and Costs in Product Markets View all chapters Production functions: short and long run Marginal product and diminishing returns Short-run costs Long-run costs and economies of scale Cost minimizing input combination and productive efficiency Prev