marginal-revenue-average-cost-profit-price-demand-function-calculus

This calculus video tutorial explains the concept behind marginal revenue, marginal cost, marginal profit, average cost function, price and demand functions. It shows you how to find the production level to minimize the average cost as well as how to find the minimum average cost so as to maximize the profit of a company. This video contains plenty of examples and practice problems.

Here is a list of topics:

1. Cost Function - The price to a produce a number of items

2. Average Cost - The average price to produce a single unit

3. Production Level - The number of units or x

4. Marginal Cost - Derivative of the Cost Function

5. Marginal Cost represents the increase in total cost to produce one extra item

6. Minimizing Average Cost Function - Finding The Production Level and the Minimum Average Cost

7. Price Function or Demand Function - The selling price of an item as a function of x

8. Supply vs Demand - Inverse Relationship - Business & Economics

9. Business Calculus - Revenue = Price Function x Number of Units (x)

10. Marginal Revenue, Marginal Cost, and Marginal Profit

11. Maximizing Profit - Finding the maximum value using the derivative function

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