Chapter 7 The Cost of Production Chapter Outline >Measuring Cost:Which Cost Matters? Cost in the Short Run >Long-Run Versus Short-Run Cost Curves >Production with Two Outputs-Economies of Scope Copyright by CaidonghongCopyright by Caidonghong Chapter 7 The Cost of Production Chapter Outline ➢ Measuring Cost: Which Cost Matters? ➢ Cost in the Short Run ➢ Long-Run Versus Short-Run Cost Curves ➢ Production with Two Outputs—Economies of Scope