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Basic Economic Relations

7E. F U N D A M E N T A L S O F. Basic Economic Relations. M ANAGERIAL E CONOMICS. M A R K H I R S C H E Y. Chapter 2. PowerPoint Presentation by Charlie Cook. © 2003 South-Western/Thomson Learning. Relation Between Total Revenue and Output.

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Basic Economic Relations

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  1. 7E F U N D A M E N T A L S O F Basic Economic Relations MANAGERIALECONOMICS M A R KH I R S C H E Y Chapter 2 PowerPointPresentation by Charlie Cook © 2003 South-Western/Thomson Learning

  2. Relation Between Total Revenue and Output Table 2.1Total RevenueOutput$1.50 1 3.00 2 4.50 3 6.00 4 7.50 5 9.00 6 Figure 2.1 Fundamentals of Managerial Economics 7e

  3. Geometric Representation of Total, Marginal, and Average Relations: Total Profits Figure 2.2A Fundamentals of Managerial Economics 7e

  4. Geometric Representation of Total, Marginal, and Average Relations: Marginal and Average Profits Figure 2.2B Fundamentals of Managerial Economics 7e

  5. Profit as a Function of Output Figure 2.3 Fundamentals of Managerial Economics 7e

  6. Total Revenue, Total Cost, and Profit Maximization Figure 2.4 Fundamentals of Managerial Economics 7e

  7. Profit Versus Revenue Maximization Figure ST2.1 Fundamentals of Managerial Economics 7e

  8. Average Cost Minimization Figure ST2.2 Fundamentals of Managerial Economics 7e

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