Keyword: efficiency maximization
A Matter of Costs (9/11/2007)
The rate at which variable cost changes in the short run is related to the nature of the fixed cost.
Keywords: AFC, ATC, AVC, average fixed cost, average total cost, average variable cost, capacity constraint, diminishing returns, efficiency maximization, increasing returns, marginal cost, MC, power generation, profit maximization
Profit vs Efficiency Maximization (11/2/2011)
Pricing modes determine the conflicts between profit maximization and efficiency maximization.
Keywords: consumer surplus, economic surplus, efficiency maximization, perfect price discrimination, price taking, profit maximization, single pricing
Profit vs Efficiency Maximization (transcript) (1/29/2012)
Pricing modes determine the conflicts between profit maximization and efficiency maximization.
Keywords: consumer surplus, economic surplus, efficiency maximization, perfect price discrimination, price taking, profit maximization, single pricing