Cost, Revenue, and Profit Maximization. Chapter 5, Lesson Five. The Purpose of a Business. What is the purpose of a business? If you are a business owner, what do want? Hopefully you said to make the most money possible. How do we make money?
Cost, Revenue, and Profit Maximization
Chapter 5, Lesson Five
# of units sold multiplied by average price per unit
Or quantity sold multiplied by price per unit
MR = difference in total revenue / marg. Prod.