Micro 3.4 & 3.5 Types of Profit and Profit Maximization

[@PetsonPetrus]

You are the best extinguishing teacher in this world

[@ReviewEcon]

Thank you!

[@PetsonPetrus]

If I have teacher like you is will be my pleasure ❤❤

[@ReviewEcon]

Thank you!

[@andrirogel8028]

These videos are really helpful. Thank you for taking time to make them!

[@ReviewEcon]

You're very welcome! Good luck with your studies!

[@myplace571]

hello do i have to learn the monopoly graph this lesson? or is it covered again in unit 4? thank you

[@ReviewEcon]

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.

[@myplace571]

@@ReviewEcon understood thank you so much

[@ReviewEcon]

You're very welcome!

[@PetsonPetrus]

I was in marwadi university from india but I don't get It, Clear like that.

[@ReviewEcon]

I'm so glad to have helped! 😄

[@Mouath99]

and to find profit max. we use TR>TC at largest point or MR=MC? thank you for your hard work

[@ReviewEcon]

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.

[@Mouath99]

@@ReviewEconappreciate it thank you

[@Mouath99]

you said economic profit is TR - total costs, why in the examples you did accounting profit - previous income

[@ReviewEcon]

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!

[@andrewmacdonald5367]

🔥

[@ReviewEcon]

Thank you! 😄