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Economic Optimization Relation Between Total Revenue and Output Geometric Representation of Total, Marginal, and Average Relations: Total Profits Geometric Representation of Total, Marginal, and Average Relations: Marginal and Average Profits Changing over the Range of a Curve A Derivative as the Slope of a Curve Profit as a Function of Output Locating Maximum and Minimum Values of a Function Total Revenue, Total Cost, and Profit Maximization Profit-Maximizing Output Conditions Profit Versus Revenue Maximization Average Cost Minimization Finding the Maximum of a Function of Two Variables:Q = 5,000 - 10P + 40A + PA - 0.8A2 - 0.5P 2 The Role of Constraints in Profit Maximization Managerial Economics 10e* Chapter 2 10E MANAGERIALECONOMICS ? 2003 South-Western/Thomson Learning M A R K H I R S C H E Y PowerPointPresentation by Charlie Cook Figure 2.1 Table 2.1 Total Revenue Output $1.50 1 3.00 2 4.50 3 6.00 4 7.50 5 9.00 6 Figure 2.2A Figure 2.2B Figure 2.3 Figure 2.4 Figure 2.5 Figure 2.6 Figure 2.7 Figure 2.8 Figure ST2.1 Figure ST2.2 Figure 2A.1 Managerial Economics 10e*
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