Youtor
Price and Output Determination for a Price Searcher
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=qBQJ2EMva2o
This is a relatively short video that walks through the graphs for a price searcher (also known as a price-maker), like a monopolist firm. It starts with the marginal cost and marginal revenue for a firm and finds the profit maximizing quantity for this firm to produce, then finds the price it will charge - from demand. This is followed by a process of identifying the areas on a graph of total revenue, total cost, total profit, total variable cost, and total fixed cost. • If you don't know why the marginal revenue curve for a price searcher has twice the slope of the demand curve, you can go talk to a calculus type OR, watch one of the other videos that explains this. It is here: • Why Marginal Revenue Is Less Than Pri...
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