1. 5 FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY

2. Copyright©2004 South-Western 13 Thinking Like an Economist

3. Copyright©2004 South-Western Figure 1 Economists versus Accountants

4. Table 1 A Production Function and Total Cost: Hungry Helen’s Cookie Factory Copyright©2004 South-Western

5. Figure 2 Hungry Helen’s Production Function

6. Copyright©2004 South-Western Figure 3 Hungry Helen’s Total-Cost Curve

7. Table 2 The Various Measures of Cost: Thirsty Thelma’s Lemonade Stand Copyright©2004 South-Western

8. Figure 4 Thirsty Thelma’s Total-Cost Curve

9. Copyright©2004 South-Western Figure 5 Thirsty Thelma’s Average-Cost and Marginal Cost Curves

10. Copyright©2004 South-Western Figure 6 Big Bob’s Cost Curves

11. Copyright©2004 South-Western Figure 6a Big Bob’s Cost Curves

12. Copyright©2004 South-Western Figure 6b Big Bob’s Cost Curves

13. Copyright©2004 South-Western Figure 7 Average Total Cost in the Short and Long Runs

14. Table 3 The Many Types of Cost: A Summary Copyright©2004 South-Western