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Maximizing Profit Under Competition
13:16
YouTubeMarginal Revolution University
Maximizing Profit Under Competition
A company in a competitive environment does not control prices. So the key to maximizing profit is choosing how much to produce. To do that, we need to factor in the costs involved in production. So what exactly are the costs? How do these costs influence how you maximize profit? And, remember, if you want to think like an economist, you must ...
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Profit Maximization
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