Micro 3.4 & 3.5 Types of Profit and Profit Maximization
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- Опубліковано 8 лют 2025
- This video covers topic 3.4 & 3.5 of the AP Microeconomics Course Exam Description (CED). It includes the accounting profit, economic profit, normal profit, breaking even, profit maximization, and marginal analysis.
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I would like to acknowlege the work of Dick Brunelle and Steven Reff from Reffonomics.com who’s work inspired many of the review games on ReviewEcon.com. I would also like to thank Francis McMann, James Chasey, and Steven Reff who taught me how to be an effective AP Economics teacher at AP summer institutes; as well as the countless high school teachers, and college professors from the AP readings, economics facebook groups, and #econtwitter.
You are the best extinguishing teacher in this world
Thank you!
If I have teacher like you is will be my pleasure ❤❤
Thank you!
These videos are really helpful. Thank you for taking time to make them!
You're very welcome! Good luck with your studies!
🔥
Thank you! 😄
I was in marwadi university from india but I don't get It, Clear like that.
I'm so glad to have helped! 😄
and to find profit max. we use TR>TC at largest point or MR=MC? thank you for your hard work
You can find profit max quantity either way, but on the AP exam marginal analysis is more commonly required so MR=MC is what you will use most.
@@ReviewEconappreciate it thank you
hello do i have to learn the monopoly graph this lesson? or is it covered again in unit 4? thank you
You do not need to learn to draw or fully understand the monopoly graph until unit 4. For now, you need to know that any time you see MR and MC on a graph, the profit maximizing quantity is found on the X axis below that intersection.
@@ReviewEcon understood thank you so much
You're very welcome!
you said economic profit is TR - total costs, why in the examples you did accounting profit - previous income
There are different ways to come up with total revenue. 4= 2+2 and 4= 1+3
Economic profit is TR-TC and AP-implicit costs.
I hope that helps!