Profit Maximization
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Please continue about how firms in perfect competition always maximize profits at the lowest avg cost. I'm working on a project for work and this is exactly what I've been trying to figure out. I can't seem to find anyone who gets into more advanced concepts.
3 years ago 3
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thanks
3 years ago 3
All Comments (8)
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The graph is wrong. MR should not parallel to the demand curve.
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I think that the graph is wrong. The MR curve should not parallel to the Demand curve. It should share the same vertical intercept of the demand curve and with a slope that is double to that of the demand curve.
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Thank you very much for making this video. It was very helpful while I was studying for my exam. I have the same graph in my book, and it was so much easier to understand after I watched this!
tigercat00 2 years ago
Glad to be of help!
wing017 2 years ago
Excellent intstructions, very clear. I am studying for the CMA exam and your videos clarify the topics very well. I use the Gleim and Hock CMA learning systems, but your visual presentation is more effective.
Thank you so much for your effective instruction.
dwing186 2 years ago
You're very welcome. Anymore questions just send a comment.
wing017 2 years ago
Thanks. I learned stuff for my exam tomorrow. But I still don't understand why profits are maximized at mc=mr
dimawinner 3 years ago
Profits are maximised at MC=MR, because at this point, the firm is producing sufficient quantity and marginal costs are not exceeding marginal revenues, so profits cannot go any higher. Remember, it is marginal revenue we are talking about, not average or total revenue. Hope this answers it for you. Best of luck in the exam.
wing017 3 years ago