Profit Maximization

What is Profit Maximization

When it comes to economics, profit maximizing refers to the method by which a company can establish the pricing, input, and output levels that will result in the largest possible overall profit. This process can be carried out in either the short run or the long run. The firm is supposed to be a "rational agent" in neoclassical economics, which is the predominant approach to microeconomics at the moment. This means that the firm's goal is to maximize its total profit, which is defined as the difference between its total revenue and its total cost.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Profit maximization

Chapter 2: Monopoly

Chapter 3: Oligopoly

Chapter 4: Perfect competition

Chapter 5: Price elasticity of demand

Chapter 6: Economic equilibrium

Chapter 7: Break-even (economics)

Chapter 8: Marginal cost

Chapter 9: Marginal product

Chapter 10: Marginal revenue

Chapter 11: Marginal revenue productivity theory of wages

Chapter 12: Cournot competition

Chapter 13: Lerner index

Chapter 14: Cost curve

Chapter 15: Average variable cost

Chapter 16: Supply (economics)

Chapter 17: Marginal product of capital

Chapter 18: Shutdown (economics)

Chapter 19: Marginal product of labor

Chapter 20: Markup rule

Chapter 21: Monopoly price

(II) Answering the public top questions about profit maximization.

(III) Real world examples for the usage of profit maximization in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Profit Maximization.

Dettagli