In undergrad econ we learned that it would cost a firm more money to increase its production in short term than in long term.

MWG does not seem to cover this topic. I need a Graduate level texts/notes/papers that cover the Short Run and Long Run Costs of firms' production (or supply curve).


1 Answer 1



  • Mas-Colell, Whinston, and Green (1995). Microeconomic Theory. Chapter 5
  • Geoffrey Reny. Advanced Microeconomic Theory, 3rd edition. Chapter 3
  • Kreps (1990). A Course in Microeconomic Theory. Chapter 7

  • Varian (1992). Microeconomic Analysis, 3rd edition. Chapter 5

Lecture notes: I think undergraduate notes are more useful on this respect. For instance:

  • Chapter 6 to Chapter 8 here.
  • Set 6 and 7 here (go to downloads to get slides).

In my experience, graduate notes deal with deeper issues. For instance this, this, or this one dig much deeper, skipping SR/LR cost functions altogether.

In any case, here Google is your friend. The trick (imo) is to add "pdf" to the search, to get lecture slides. For example:



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