Random Fact

The United States poverty rate in 2013 was 14.5%. In 2012 it was 15%. It was 12.5% in 2007 (pre-recession). In 1959, it was 22.4% (http://www.census.gov/hhes/www/poverty/about/overview/index.html).

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
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