Profit Maximization for a Perfectly Competitive Firm (Demand & Cost Functions) .
6:32
YouTubeECON MATHS
Profit Maximization for a Perfectly Competitive Firm (Demand & Cost Functions) .
In this video, we'll walk through a step-by-step solution to a classic microeconomics problem. We're given the demand and cost functions for a perfectly competitive firm: P = 32 - Q and C = Q² + 8Q +4. Our goal is to find the price, profit, and total revenue that maximize the total profit. We'll cover key economic concepts and calculations ...
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