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Lecture 8 Profit Maximization

Lecture 8 Profit Maximization . Comparison of consumer theory with producer theory . In consumer theory we learned that the main objective of consumer is utility maximization and in producer theory the main objective of producer is profit maximization.

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Lecture 7 Cost Minimization and Profit Maximization

Lecture 7 Cost Minimization and Profit Maximization . Isocost curve. Isocost Curve shows various combinations of inputs that a firm can buy with the same level of expenditure/Cost P L L + P K K = C where C is the total cost of production P L = Price of labor P K = Price of capital

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438 views • 15 slides

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Lecture 8 Profit Maximization

Lecture 7 Cost Minimization and Profit Maximization