Random Fact

As of July 2013, Indonesia had a population of 251 million people, a labor force of 118 million people, and an unemployment rate of 6.1%. Its 2012 real GDP growth rate was 6.2% (CIA World Fact Book).

Unit 6: Profit Maximization of a Purely Competitive Firm

Introduction
Section 1: The Four Industry Types and the Four Characteristics of Pure Competition
Section 2: Revenue, Costs, and Profit
Section 3: Average Revenue and Marginal Revenue
Section 4: Profit Maximization Using a Purely Competitive Firm's Cost and Revenue Curves
Section 5: Profit Maximization Using Data from a Table
Section 6: Long-Run Output and Profit Determination
Section 7: The Farming Industry
Test Your Knowledge!