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 ... Total Revenue , Total Cost , and Profit 284 Profit-Maximizing Output.
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 ... Total Revenue , Total Cost , and Profit 284 Profit-Maximizing Output.
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... revenue gain of $ 14 ( the price charged for the third haircut ) . But there is a revenue loss of $ 4 ( $ 2 per haircut ) on the 2 hair- cuts that she could have sold for $ 16 each . The marginal revenue ( extra total revenue ) from the ...
... revenue gain of $ 14 ( the price charged for the third haircut ) . But there is a revenue loss of $ 4 ( $ 2 per haircut ) on the 2 hair- cuts that she could have sold for $ 16 each . The marginal revenue ( extra total revenue ) from the ...
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... total cost ( TC ) , marginal cost ( MC ) , and 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 ...
... total cost ( TC ) , marginal cost ( MC ) , and 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 ...
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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