Cost and Production 1a.avi
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Superb explanations, very simple done! Great job, Dr. Burkey! Keep it up for students like us!
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Thak you soo much Burkey Academy
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Hi, plese How can we reduce a Cost of Production in Short Run??
TheIslandGIL 9 months ago
@TheIslandGIL I can answer this two ways:
From a purely theoretical standpoint, you can produce less (assuming you are producing using the least cost combination of inputs), or to correct your input mix to the most efficient method (for example, using more water and less fertilizer, perhaps).
From a more practical standpoint, you can try to streamline, become more efficient (perhaps by using six sigma, etc.), by giving better incentives to you workers to reduce waste and work harder...
BurkeyAcademy 9 months ago
thanks for your lecture, im a student of economics in Meico and this lecture really help me out
Havethait 1 year ago
@Havethait
Gracias, estoy muy feliz!
BurkeyAcademy 1 year ago