Production cost of Leyte coin
Publish: 2021-04-29 14:37:10
1.
LTC is the abbreviation of lightcoin. Lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central authority
for the market of Leyte LTC, you can find it in the UK for financial information
2. The expression of MR is wrong. Mr here can't be derived from the demand curve. The demand curve here is the actual demand curve rather than the subjective demand curve, and there is no double slope relationship
3. Here, according to the short-term definition, in the short term, only the input of proction factors can be adjusted and changed, and the scale cannot be expanded or reced. In other words, if the enterprise's cost curve is stc3 (large longitudinal intercept, large proction scale), the enterprise can not adjust the scale in the short term, that is to say, the enterprise's STC curve can not be changed. In this case, the output of the enterprise is Q2, so the cost is the value D of stc3 at Q2
4. Short term total cost (STC) refers to the total cost of procing a certain proct in a short time. It is the sum of fixed cost and variable cost. The short-term total cost increases with the increase of output, which is an increasing function of output. Long term total cost LTC refers to the lowest total cost that a manufacturer can achieve by selecting the optimal proction scale at each proction level in the long term. The long-term total cost curve is the envelope of numerous short-term total cost curves. On this enveloping line, there are tangent points of LTC curve and STC curve at each continuously changing output level. The proction scale represented by STC curve is the optimal proction scale of the output, and the total cost corresponding to the tangent point is the lowest total cost of the output. Therefore, the LTC curve represents the minimum total proction cost brought by the optimal proction scale at each proction level in the long run.
5. The American Dental Association (ADA), a professional dental organization in the United States, is headquartered in Chicago.
6. LTC -- long term total cost
long term total cost refers to the lowest total cost that a manufacturer can achieve by changing the proction scale at various proction levels in the long term, which is jointly determined by the proction level and proction scale. The long-term total cost function can be expressed as LTC = LTC (q)
in the long run, manufacturers have only variable costs and no fixed costs, so they can not be divided
long term total cost refers to the lowest total cost that a manufacturer can achieve by changing the proction scale at various proction levels in the long term, which is jointly determined by the proction level and proction scale. The long-term total cost function can be expressed as LTC = LTC (q)
in the long run, manufacturers have only variable costs and no fixed costs, so they can not be divided
7. Let's first analyze what makes money
in real life, some people have high income and some people have low income, but high income does not mean making money. You have studied harder than other students since you were a child. Others went to ordinary universities, but you went to famous ones; After work, others come home from work. You often work overtime and work hard. Then you get a higher position and get a higher salary. This kind of state is not called making money
if you work twice as hard and earn twice as much as the average person, then your "profit" is zero
from an economic point of view, the time you spend studying and working is a cost. Your high ecation is not out of thin air, it's your own efforts. How much cost do you pay and how much profit do you get
economists describe this state as "marginal". What you provide is a "marginal service" in the market, and your labor force is a "marginal commodity"
"margin" means to do or not to do. You are willing to pay twice as much effort in exchange for twice as much salary. That's your business. Some people think it's more important to enjoy life. He does half the work and takes half the money. Compared with you, he doesn't lose anything. This is purely a choice of personal values, and no one will envy anyone
what is making money? Making money means you get more than you give
How can we make the gains outweigh the efforts
if you understand this model, you will understand the rich
suppose there is a remote town with a large area of high-quality land, and you are the landlord of one of them. At first, the land was idle and uncultivated. You and many landlords in the small town are not going to work - or how can you call them landlords? You all want to rent out your land and get some rent. Outside the town, there are some barren, shrubby, ownerless places
finally one day, a farmer came here to farm. Of course, all landlords want to rent their land to them, but the supply of land exceeds the demand, so the rent must be very low. For landlords, a little income is better than nothing, right
when more and more farmers come and rent all the high-quality land in the town, if there is another farmer who wants to rent land, he has only two choices - or to cultivate the barren land outside the town without rent; Or pay a higher rent to rent the high-quality land in the hands of the landlord
nowadays, the barren and ownerless land is the so-called "marginal land"
with the same labor, one ton of grain can be proced on barren land and five tons on high-quality land. If food is very valuable now, then barren land can be cultivated or not, that is, it can be dried or not, while only a fool can not cultivate high-quality land
at this time, the high-quality land you own is a kind of "scarce" resource
how much should farmers give you if they want to rent you a scarce resource? Basically:
rent of high quality land = (output of high quality land - output of marginal land) × Food prices
in other words, basically, the farmer should give you all the extra income from planting your land. Of course, you can't give them all. You should always give them a little profit - but you certainly don't have to give them a lot, because a rational farmer knows that as long as he can get a little more income, it's better than farming marginal land
at the beginning, farmers were scarce, and then land was scarce. At first, the peasants could give the landlords some money at will. Later, the landlords could leave some money at will
you get almost all the price difference because you master the scarce resources. This is money making
the same is true for companies. For example, there are two competing banks, bank a provides high-quality services, and bank B has average service quality
if B is also in the market, but barely maintains, then B is a marginal bank that can do or not. After decting various expenses, the profit is basically zero. A can attract more customers at the same cost, so a must be profitable. This is the same as Ricardo's land theory. Profit is equal to the difference between good service and marginal service. We can say that bank a is profitable because it has "good service" - such a scarce power
note that the so-called "scarcity" must be compared with your competitors. Suppose there is a person who sells fried dough sticks on the street. He gets up early and sleeps late every day and is very tired. He suffered more than ordinary people, and his fried dough sticks skill was also higher than ordinary people. He said, why don't I make money? He was wrong. Ordinary people didn't come out to sell fried dough sticks. You have to be better than other people who sell fried dough sticks. Your ability is scarce
the brand with great reputation, the technology that no one has, the golden location, the instry standard established by your company, and the strong interpersonal relationship are all scarce resources. Who owns scarcity can make profit
of course, with the power of scarcity, we can't do it once and for all. We have to find ways to make as many customers as possible pay for it. You can use the "differential pricing" method to divide the coffee into medium, large and extra large cups, and divide the software into enterprise, home and student versions. In fact, the proction costs are almost the same, just to make people with more money and less money can afford it... These are all small tricks, which are introced in the book
the key lies in scarcity. The most powerful way to make money is to find a way to prevent competitors from entering and artificially create scarcity! For example, the city government of London forcibly stipulates to build a green belt in the outskirts of the city, and it is forbidden to build houses in the green belt. As a result, the city of London can not be expanded, and the scarcity of existing land in the city is greatly increased. This method of making money is called "monopoly"
we have to learn to look at these companies in the market from the perspective of scarcity in order to grasp the key
why is Facebook making so much money now? What great technology has it developed on its own? Facebook's scarce resource is its loyal users. If your friends and family are on Facebook, it's hard not to use it. Perhaps the biggest concern for Facebook is not new technology, but what the younger generation will do if they are not willing to share a social networking site with their parents
why is bitcoin valuable? Now other virtual currencies can do such functions as good technology, advanced P2P ideas and cross-border payment, such as "Wright coin", "ether coin", "Dog Coin" and so on, and some of them can do better. Bitcoin is valuable because bitcoin is the first virtual currency. Its real scarce resource is reputation
conversely, we can see that many Internet start-ups, such as taxi hailing, takeout ordering and online video websites, have technologies and ideas that others can learn if they want to. If they have money, they can start a business. What is the power of scarcity? The only hope is to defeat all peers in the competition, and to have a large number of loyal users. And the loyalty of users is particularly questionable
the key to making money is not how you are, but where you are better than others. If your success can be replicated, you are not success. The only way to make money is to master the rare power that cannot be copied
"scarce" resources are always... Rare and lacking, so the rich are never mass-proced, you always have to have your own things. It's like a question that venture capital companies like to ask: do you have any unfair competitive advantage over your competitors?
in real life, some people have high income and some people have low income, but high income does not mean making money. You have studied harder than other students since you were a child. Others went to ordinary universities, but you went to famous ones; After work, others come home from work. You often work overtime and work hard. Then you get a higher position and get a higher salary. This kind of state is not called making money
if you work twice as hard and earn twice as much as the average person, then your "profit" is zero
from an economic point of view, the time you spend studying and working is a cost. Your high ecation is not out of thin air, it's your own efforts. How much cost do you pay and how much profit do you get
economists describe this state as "marginal". What you provide is a "marginal service" in the market, and your labor force is a "marginal commodity"
"margin" means to do or not to do. You are willing to pay twice as much effort in exchange for twice as much salary. That's your business. Some people think it's more important to enjoy life. He does half the work and takes half the money. Compared with you, he doesn't lose anything. This is purely a choice of personal values, and no one will envy anyone
what is making money? Making money means you get more than you give
How can we make the gains outweigh the efforts
if you understand this model, you will understand the rich
suppose there is a remote town with a large area of high-quality land, and you are the landlord of one of them. At first, the land was idle and uncultivated. You and many landlords in the small town are not going to work - or how can you call them landlords? You all want to rent out your land and get some rent. Outside the town, there are some barren, shrubby, ownerless places
finally one day, a farmer came here to farm. Of course, all landlords want to rent their land to them, but the supply of land exceeds the demand, so the rent must be very low. For landlords, a little income is better than nothing, right
when more and more farmers come and rent all the high-quality land in the town, if there is another farmer who wants to rent land, he has only two choices - or to cultivate the barren land outside the town without rent; Or pay a higher rent to rent the high-quality land in the hands of the landlord
nowadays, the barren and ownerless land is the so-called "marginal land"
with the same labor, one ton of grain can be proced on barren land and five tons on high-quality land. If food is very valuable now, then barren land can be cultivated or not, that is, it can be dried or not, while only a fool can not cultivate high-quality land
at this time, the high-quality land you own is a kind of "scarce" resource
how much should farmers give you if they want to rent you a scarce resource? Basically:
rent of high quality land = (output of high quality land - output of marginal land) × Food prices
in other words, basically, the farmer should give you all the extra income from planting your land. Of course, you can't give them all. You should always give them a little profit - but you certainly don't have to give them a lot, because a rational farmer knows that as long as he can get a little more income, it's better than farming marginal land
at the beginning, farmers were scarce, and then land was scarce. At first, the peasants could give the landlords some money at will. Later, the landlords could leave some money at will
you get almost all the price difference because you master the scarce resources. This is money making
the same is true for companies. For example, there are two competing banks, bank a provides high-quality services, and bank B has average service quality
if B is also in the market, but barely maintains, then B is a marginal bank that can do or not. After decting various expenses, the profit is basically zero. A can attract more customers at the same cost, so a must be profitable. This is the same as Ricardo's land theory. Profit is equal to the difference between good service and marginal service. We can say that bank a is profitable because it has "good service" - such a scarce power
note that the so-called "scarcity" must be compared with your competitors. Suppose there is a person who sells fried dough sticks on the street. He gets up early and sleeps late every day and is very tired. He suffered more than ordinary people, and his fried dough sticks skill was also higher than ordinary people. He said, why don't I make money? He was wrong. Ordinary people didn't come out to sell fried dough sticks. You have to be better than other people who sell fried dough sticks. Your ability is scarce
the brand with great reputation, the technology that no one has, the golden location, the instry standard established by your company, and the strong interpersonal relationship are all scarce resources. Who owns scarcity can make profit
of course, with the power of scarcity, we can't do it once and for all. We have to find ways to make as many customers as possible pay for it. You can use the "differential pricing" method to divide the coffee into medium, large and extra large cups, and divide the software into enterprise, home and student versions. In fact, the proction costs are almost the same, just to make people with more money and less money can afford it... These are all small tricks, which are introced in the book
the key lies in scarcity. The most powerful way to make money is to find a way to prevent competitors from entering and artificially create scarcity! For example, the city government of London forcibly stipulates to build a green belt in the outskirts of the city, and it is forbidden to build houses in the green belt. As a result, the city of London can not be expanded, and the scarcity of existing land in the city is greatly increased. This method of making money is called "monopoly"
we have to learn to look at these companies in the market from the perspective of scarcity in order to grasp the key
why is Facebook making so much money now? What great technology has it developed on its own? Facebook's scarce resource is its loyal users. If your friends and family are on Facebook, it's hard not to use it. Perhaps the biggest concern for Facebook is not new technology, but what the younger generation will do if they are not willing to share a social networking site with their parents
why is bitcoin valuable? Now other virtual currencies can do such functions as good technology, advanced P2P ideas and cross-border payment, such as "Wright coin", "ether coin", "Dog Coin" and so on, and some of them can do better. Bitcoin is valuable because bitcoin is the first virtual currency. Its real scarce resource is reputation
conversely, we can see that many Internet start-ups, such as taxi hailing, takeout ordering and online video websites, have technologies and ideas that others can learn if they want to. If they have money, they can start a business. What is the power of scarcity? The only hope is to defeat all peers in the competition, and to have a large number of loyal users. And the loyalty of users is particularly questionable
the key to making money is not how you are, but where you are better than others. If your success can be replicated, you are not success. The only way to make money is to master the rare power that cannot be copied
"scarce" resources are always... Rare and lacking, so the rich are never mass-proced, you always have to have your own things. It's like a question that venture capital companies like to ask: do you have any unfair competitive advantage over your competitors?
8. The essence of the two is the same, the expansion line and LTC line can be converted to each other. It reflects that in the long run, manufacturers always achieve the maximum output under the given factor combination, or use the minimum cost under the given output.
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