Living Economics Table of Contents Opus1 Flash Econ Ulogistics
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5. Single-pricing Searchers
5.1
Maximization and Optimization at the Margin
Optimizing at the margin can bring about static economic efficiency.
5.2
Price Searchers, Price Discriminators, and Price Takers
The uniqueness of products affects the pricing power of sellers.
5.3
Generating TR and MR for single-pricing searcher
Total revenue and marginal revenue can be derived from linear demand curve under single pricing for the price searcher.
5.4
Profit maximization for single-pricing searcher
Compare profit-maximizing conditions using total revenue and total cost curves with those using marginal revenue and marginal cost curves for single-pricing searchers.
5.5
Measure Profit with P and ATC – Positive Profit for Single-pricing Searcher
Measure profit with P and ATC - positive profit for price searcher.
5.6
Profit and Output when P = MC for Single-pricing Searcher
When P = MC under single pricing, profit and output will be lower than when MR = MC.
5.7
Measure Profit with P and ATC – No Profit for Single-pricing Searcher
Measure profit with P and ATC – No profit for single-pricing searcher.
5.8
Fund Raising at the Margin
The MR = MC profit maximization rule could be applied to fund raising.