I am a second year undergraduate student at the University of Bristol, studying Economics and Management. I achieved A* in Economics and Maths A-levels and an A* at maths GCSE so would be very happy to help any students who are studying these subjects. My hours are very flexible so please don't hesitate to contact me if you require any help.
|Economics||A Level||£30 /hr|
|Maths||A Level||£30 /hr|
|Maths||13 Plus||£30 /hr|
|Maths||11 Plus||£30 /hr|
|Before 12pm||12pm - 5pm||After 5pm|
Please get in touch for more detailed availability
Stephanie (Student) October 25 2016
Taz (Student) May 20 2016
Taz (Student) May 2 2016
Taz (Student) May 5 2016
Profit maximising is where a company sets a price and quantity that gets the company the highest profit possible. Profit maximising tends to occur in markets with low competition where the companies have high price setting power (Monopolies, Duopolies and Oligopolies)
The profit maximising point is found by making Marginal Cost (MC) = Marginal Revenue (MR).
Marginal Cost (MC) = cost to the firm of producing an additional unit of output, relates to variable cost only and not fixed cost
Marginal Revenue (MR) = additional revenue gained from selling one additional unit of output
Any deviation away from this point will mean that the company is no longer profit maximising.
- Just because the company is profit maximising, it doesnt mean they are actually making profit, they may be minimising their losses.see more