PremiumAdam D. GCSE Maths tutor, A Level Economics tutor, A Level Maths tutor

Adam D.

Currently unavailable: for regular students

Studying: Economics and Management (Bachelors) - Bristol University

4.8
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63 reviews| 87 completed tutorials

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About me

I am a final year student at the University of Bristol, studying Economics and Management and am currently on track to achieve a 1st. 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. 

I am a final year student at the University of Bristol, studying Economics and Management and am currently on track to achieve a 1st. 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. 

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Ratings & Reviews

4.8from 63 customer reviews
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Bhanu (Parent)

April 6 2017

Hi Adam We never completed this lesson due to technical problems and I was expecting a refund on this. I was unable to follow up due to bereavement in the family. Can you please refund. Regards Bhanu Saunder

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Victoria (Parent)

April 17 2017

Had a good lesson, focusing on Micro economics, it was well explained and helped to solidify my knowledge.

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Sadia (Parent)

February 6 2017

hi Adam you were very kind and nice. from Rania

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Sadia (Parent)

February 6 2017

you did very well

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Qualifications

SubjectQualificationGrade
PoliticsA-level (A2)A*
EconomicsA-level (A2)A*
MathematicsA-level (A2)A*
EconomicsDegree (Bachelors)1ST

General Availability

Before 12pm12pm - 5pmAfter 5pm
mondays
tuesdays
wednesdays
thursdays
fridays
saturdays
sundays

Subjects offered

SubjectQualificationPrices
EconomicsA Level£36 /hr
MathsA Level£36 /hr
MathsGCSE£36 /hr
EconomicsIB£36 /hr
MathsIB£36 /hr
Maths13 Plus£36 /hr
Maths11 Plus£36 /hr

Questions Adam has answered

Explain how a company would set a price if their aim was to profit maximise.

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. 

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. 

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2 years ago

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