MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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Michael Parkin. CHAPTER 11 COMPETITION Profit - Maximizing Output Profit is the difference between a firm's total revenue and total cost . Maximizing profit is the same thing as maximizing the difference between total revenue and total ...
Michael Parkin. CHAPTER 11 COMPETITION Profit - Maximizing Output Profit is the difference between a firm's total revenue and total cost . Maximizing profit is the same thing as maximizing the difference between total revenue and total ...
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... Profit- maximization point Marginal revenue Marginal cost Loss from 10th sweater Quantity ( Q ) Total ( MR ) Total ( MC ) revenue ( dollars cost ( dollars Profit ( sweaters ( TR ) per ( TC ) per ( TR - TC ) MR per day ) ( dollars ) ...
... Profit- maximization point Marginal revenue Marginal cost Loss from 10th sweater Quantity ( Q ) Total ( MR ) Total ( MC ) revenue ( dollars cost ( dollars Profit ( sweaters ( TR ) per ( TC ) per ( TR - TC ) MR per day ) ( dollars ) ...
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... profit ( TR- TC ) to the information on demand and revenue in Table 12.1 . For example , at a price of $ 16 , 2 haircuts will be sold for a total revenue of $ 32 . The total cost of producing 2 haircuts is $ 24 , so profit equals $ 8 ...
... profit ( TR- TC ) to the information on demand and revenue in Table 12.1 . For example , at a price of $ 16 , 2 haircuts will be sold for a total revenue of $ 32 . The total cost of producing 2 haircuts is $ 24 , so profit equals $ 8 ...
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amount average benefit budget calculate called capital cars CHAPTER choices cloth competitive consumer consumption corn cost curve countries decreases demand curve depends determined dollars economic effect elasticity elasticity of demand equal equilibrium example expected Explain factor falls Figure firms future given graph higher hour household illustrates important income increases individual industry input interest labor less long-run look loss lower marginal cost marginal revenue marginal utility measured million monopoly month opportunity cost output percent percentage person possible preferences problem production profit quantity demanded questions regulation relationship rent result rises scale sell shifts short-run shown shows slope soda sold substitution supply curve sweaters tapes theory things tion total cost trade units utility variable wage wage rate wealth week workers