The Profit-Maximizing Rule
Why MR = MC Works
Total Revenue, Total Cost, and Profit
Marginal Revenue
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Graphical Profit Maximization
Step-by-Step for Any Market Structure
In perfect competition: find MR=MC, then profit = (P − ATC) × Q*
Worked Example (from a table)
The Shut-Down Rule vs. The MR = MC Rule
Profit Scenarios Summary
AP Exam Tips
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Common Mistakes
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Unit 3 topics
Unit 3 overview3.1The Production Function3.2Short-Run Production Costs3.3Long-Run Production Costs3.4Types of Profit3.5Profit Maximization3.6Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit3.7Perfect Competition3.8Long-Run Equilibrium and Efficiency in Perfect Competition