Tuesday, October 25, 2016

Chapter 13 Blog Post

Shahid Monametsi

Chapter thirteen discusses the idea of total cost and how to calculate and interpret this through a graph. This chapter had a lot of content in it making it a little difficult to absorb when first reading it. After a while you begin to realize that this chapter was actually kind of reiterating everything in more complicated terms. For example the way to calculate the total marginal cost seemed pretty clear when it was discussed at the beginning of the chapter, yet the book still talks about calculating it, slope- wise. This seems incredibly redundant and makes a simple concept seem long and tedious.

Overall the content of this chapter was pretty easy to understand. I think that everything that we learned in previous chapter (especially chapter 4) has prepared us for the idea that the end goal is to have profits i.e make money. This made it very easy to use economic reasoning, once again, to work through the actual substance.

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