Perfect competition: Point of profit maximisation
20.1 هزار بار بازدید -
13 سال پیش
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The firm maximises profits if
The firm maximises profits if it produces that quantity where the marginal revenue (MR) is
equal to the marginal cost (MC).
The reason for this is very straightforward. As long as the marginal revenue is greater than the marginal cost, the marginal revenue contributes towards total profits. By producing and selling an additional unit, the producer gains more than it costs to produce the additional
unit and its profits increase.
equal to the marginal cost (MC).
The reason for this is very straightforward. As long as the marginal revenue is greater than the marginal cost, the marginal revenue contributes towards total profits. By producing and selling an additional unit, the producer gains more than it costs to produce the additional
unit and its profits increase.
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