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Profit Maximization under Single Pricing - youtube (transcript) (1/29/2012)
Single-price searchers maximize profit by setting a uniform price where marginal revenue is equal to marginal cost.
Single-price searchers maximize profit by setting a uniform price where marginal revenue is equal to marginal cost.
Marginal Cost, Average Variable Cost and Average Fixed Cost - youtube (transcript) (1/29/2012)
Marginal cost, average variable cost and average fixed cost can be derived from a short-run production function subject to the law of diminishing returns.
Marginal cost, average variable cost and average fixed cost can be derived from a short-run production function subject to the law of diminishing returns.
Marginal Cost and Average Total Cost - youtube (transcript) (1/29/2012)
Marginal cost and average total cost can be derived from the short-run total cost subject to the law of diminishing returns.
Marginal cost and average total cost can be derived from the short-run total cost subject to the law of diminishing returns.
Law of Diminishing Returns - youtube (transcript) (1/29/2012)
The Law of Diminishing Returns says that when some inputs are fixed in capacity in the short run, increasing the variable input working with the fixed inputs would first lead to increasing additional output per additional unit of variable input, but eventually decreasing additional output per additional unit of variable input after the optimal capacity of the fixed input has been exceeded.
The Law of Diminishing Returns says that when some inputs are fixed in capacity in the short run, increasing the variable input working with the fixed inputs would first lead to increasing additional output per additional unit of variable input, but eventually decreasing additional output per additional unit of variable input after the optimal capacity of the fixed input has been exceeded.
Cleaning Up the Detergent Market (1/25/2012)
A cartel in detergents broke up over defections from agreed prices and promotion practices.
A cartel in detergents broke up over defections from agreed prices and promotion practices.
Profit Maximization Under Natural Monopoly - youtube (1/23/2012)
Natural monopoly with decreasing average total cost can still make profit by equating marginal revenue with marginal cost while achieving economic efficiency through price discrimination.
Natural monopoly with decreasing average total cost can still make profit by equating marginal revenue with marginal cost while achieving economic efficiency through price discrimination.
Profit Maximization Under Single Pricing (transcript) (1/20/2012)
Single-price searchers maximize profit by setting a uniform price where marginal revenue is equal to marginal cost.
Single-price searchers maximize profit by setting a uniform price where marginal revenue is equal to marginal cost.
