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This MR = MC Practice instructional video also includes:
Given quantity, total cost, and a perfectly competitive firm, how much should an organization produce and what will be the profit? Watch as the concept of profit maximization is broken down and explained with real-time illustrations and graphs.
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4 Downloads
CCSS:
Adaptable
Additional Tags
Instructional Ideas
- Use as a follow up after introducing concept of perfect competition
- Include on class website for learners to use as review
Classroom Considerations
- Class members should know how to calculate marginal cost
- This video is hosted on YouTube
Pros
- Key steps of process are identified in text at bottom of screen throughout video
- Discusses price in perfect competition, marginal cost, and total revenue
Cons
- None