This Episode 19: Costs of Production and the Shutdown Decision podcast also includes:
- Reading Passage
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The 19th podcast of a 21-part series on economics focuses on the costs of production when running a business. Historians analyze the difference between fixed, explicit, and implicit costs. They use mathematical equations to find total revenue and total cost, determining what it takes for success as well as knowing when to close up shop.
- Lesson is designed for grades 8-12 and beyond
- Audio and visual learners benefit from listening to the podcast and watching the video
- Lesson includes printable transcript of the podcast for classroom use