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Lecture Economics (6/e): Chapter 21 - Stephen L. Slavin-Kinh Te - Quan Ly

Chapter 21 - Profit maximization. This chapter presents the following content: Marginal Revenue, profit maximization and loss minimization, the short-run supply curve, the long-run supply curve, the shut-down and break-even points, economic efficiency.

Category Tài liệu Kinh Tế - Quản Lý

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Created date 8/30/2018 5:45:07 AM +00:00

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Tải Lecture Economics (6/e): Chapter 21 - Stephen L. S... (.pdf)

Chapter
21
Profit
Maximization
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
21­1
Chapter
Objectives
•
Marginal
Revenue
•
Profit
maximization
and
loss
minimization
•
The
short­run
supply
curve
•
The
long­run
supply
curve
•
The
shut­down
and
break­even
points
•
Economic
efficiency
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
21­2
Graphing
Demand
&
Marginal
Revenue
Total
Revenue
is
price
X output
Marginal
revenue is the increase
in total
revenue
when
output
sold goes up
by
one
unit
Output
Price
Total
Revenue
Marginal
Revenue
1
$5
$
5
$5
2
5
10
5
3
5
15
5
4
5
20
5
5
5
25
5
6
5
30
5
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
21­3