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Total Cost Structure

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Katowski T.

Pieniądze i Więź

2006

vol. 9

issue 2-3(31-32)

99-106

In the literarure on the subject there are four main criteria dividing total cost: 1) ability to establish financial value of the cost; 2) the relation between the cost and the production change; 3) the necessity of covering the cost by income; 4) the relation between the cost and decision. As a consequence the short term total cost analysis may include accordingly: open and hidden costs and fixed costs, direct and indirect costs, choice-influenced costs and choice influencing costs. The cost theory presented by contemporary handbooks of microeconomics combines the elements of theory explaining producers' behaviour in relation to the cost analysis divided into variable and fixed costs analysis with the elements of London School of Economy logic choice theory based on the choice influencing and choice influenced cost division. It creates many unclear interpretations visible in the charts describing economic position of model producers. In that context the suggestions made by Buchanan and Machlup to limit short-term producers' activity analysis to the elements of costs and income measurable in money seem right

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1 Pieniądze i Więź

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1 Katowski T.

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Total Cost Structure