(1) Short Run Cost I: Intro & Overview
Total Cost, Fixed Cost, Variable Cost, Cost as Dollar Version of Production
This introduces short run cost analysis. It notes how cost is just a dollar value reflection of production relations. It distinguishes the concepts of Total Cost, Total Fixed Cost, and Total Variable Cost. It notes some practical problems with appropriately measuring cost.
Crane, Steven E., "(1) Short Run Cost I: Intro & Overview" (2011). Principles of Microeconomics. 58.
Ability to explain the general connection between production and cost. Ability to distinguish between fixed and variable costs.