Position velocity acceleration
Critical number & maximum and minimum values
Mean value theorem
Demand, revenue, cost & profit
Marginal revenue, and maximizing revenue & average revenue
Marginal cost, and minimizing cost & average cost
Marginal profit, and maximizing profit & average profit
Elasticity of demand
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Marginal Profit (MP) is the additional profit that is gained when you increase the unit by one. It is also the derivative of the profit function. In other words,
Average Profit (AP) is the amount of profit generated per unit. In other words,
In this section, we would want to find the quantity qqq, which maximizes profit and average profit. To maximize profit, we would want to solve for:
To maximize average profit, we would want to solve for:
Given the following information, find the marginal profit and the value of qqq which maximizes the profit. Lastly, calculate the maximum profit.
Given the following information, find the marginal average profit and the value of qqq which maximizes the average profit:
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