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Differentiation

Differentiation. Purpose- to determine instantaneous rate of change Eg: instantaneous rate of change in total cost per unit of the good We will learn Marginal Demand, Marginal Revenue, Marginal Cost, and Marginal Profit. Marginal Cost : MC(q). What is Marginal cost?

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485 views • 30 slides

Perfect competition

Perfect competition. ECG 507 Professor Allen 9/15/05. 1. Profit Maximization. Determining the profit maximizing level of output Profit = = Total Revenue - Total Cost Total Revenue = Pq Total Cost = C(q) Therefore:. 2. Profit Maximization.

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534 views • 26 slides

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Mr q - PowerPoint PPT Presentation

Differentiation

Perfect competition