IB revision notes on the theory of the firm topic, including cost, revenue and profit curves as well as market structures.
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Profit Theory. Profit. Shutdown price, breakeven price, profit maximisation. Maximizing other goals. Cost Theory. Short run Vs Long Run.
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The first Theory of the Firm topic in IB Economics concerns itself with the behaviour of firms and examines production and the law of diminishing returns ...
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MC MR profit is rich. He's clever because he always produces at the MC=MR price, so he sells at the price that makes the most amount of profit possible. What a ...
Demand Curve ... No matter how much output the perfectly competitive firm sells, P = MR = AR and these are constant at the level of the horizontal demand curve.
Duration: 23:31
Posted: Mar 16, 2019
Posted: Mar 16, 2019
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