经济学原理Chap13-0 的2.pptVIP

How Firms Make Decisions:Profit Maximization Understanding Profit Two Definitions of Profit Two Definitions of Profit Why Are There Profits? The Demand Constraint The Demand Constraint The Profit-Maximizing Output Level The Total Revenue and Total Cost Approach The Total Revenue and Total Cost Approach Profit MaximizationTR, TC Approach The Marginal Revenue and Marginal Cost Approach Marginal Revenue and Marginal Cost Approach Fig. 2 Demand and Marginal Revenue Using MR and MC to Maximize Profits Using MR and MC to Maximize Profits Using MR and MC to Maximize Profits Profit MaximizationMR,MC Approach Profit Maximization The Importance of Marginal Decision Making: A Broader View Dealing with Losses Dealing with Losses Dealing With Losses Fig. 5 Shut Down Shutdown Rule The Long Run: The Exit Decision The Long Run: The Exit Decision * Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Let’s review Two Definitions of Profit Why Are There Profits? Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Accounting Profit Total revenue minus accounting costs Economic Profit Total revenue minus all costs of production, explicit and implicit Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Economic Profit is the proper measure for understanding and prediction behavior of firms. Economic profit recognizes all opportunity costs of production. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Profit is a payment for two contributions: risk-taking innovation That is why Entrepreneurial Ability is currently listed as one of the resources. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Demand Curve Facing the Firm indicates, for differ