Random Fact

Women own approximately 28% of the nearly 28 million businesses in the United States (www.census.gov).

Unit 6: Profit Maximization of a Purely Competitive Firm

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!

Microeconomics