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Total cost rises - PowerPoint PPT Presentation

C hapter 9

C hapter 9

C hapter 9. Maximizing Profit. Economic Principles. Entrepreneurial behavior Total revenue, average revenue, and marginal revenue Profit maximization. Economic Principles. Loss minimization The application of the MR = MC rule Corporate empire building. Profit Maximization.

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1.03k views • 79 slides
C hapter 9

C hapter 9

C hapter 9. Maximizing Profit. Economic Principles. Entrepreneurial behavior Total revenue, average revenue, and marginal revenue Profit maximization. Economic Principles. Loss minimization The application of the MR = MC rule Corporate empire building. Profit Maximization.

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984 views • 79 slides
Production And Cost in the Long Run

Production And Cost in the Long Run

Production And Cost in the Long Run. In the long run, costs behave differently Firm can adjust all of its inputs in any way it wants In the long run, there are no ___ inputs or ___ costs All inputs and all costs are ______

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423 views • 23 slides
CH 5 - Cost Functions

CH 5 - Cost Functions

CH 5 - Cost Functions. Costs are two kind: 1- Economic Cost = Explicit Costs + Implicit Costs Explicit cost : are out-of-pocket expenses, such as labor, raw materials , and rent.

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239 views • 22 slides
Warm-Up, 10/24

Warm-Up, 10/24

Warm-Up, 10/24. Marginal cost always intersects average variable cost at The profit-maximizing quantity The minimum of marginal cost The maximum of average variable cost The minimum of average variable cost The maximum of marginal cost. The Costs of Production (21). Day 3.

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308 views • 19 slides

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