Course

Profit Maximization

Instructor: Alex Tabarrok, George Mason University

Profit Maximization : The process by which firms determine the price and output quantity that will yield the highest possible profit. This is done by setting

Profit Maximization: The process by which firms determine the price and output quantity that will yield the highest possible profit. This is done by setting Marginal Revenue equal to Marginal Cost. This is from the video “Maximizing Profit Under Competition” in the Principles of Microeconomics course.

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