Figure 8.2 How a Competitive Firm Maximizes Profit

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Presentation transcript:

Figure 8.2 How a Competitive Firm Maximizes Profit © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 8.3 The Short-Run Shutdown Decision © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 8.4 How the Profit-Maximizing Quantity Varies with Price © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 8.10 Long-Run Firm and Market Supply with Identical Vegetable Oil Firms © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.1 Consumer Surplus © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.3 Producer Surplus © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.4 Why Reducing Output from the Competitive Level Lowers Welfare © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.5 Why Increasing Output from the Competitive Level Lowers Welfare © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.7 Welfare Effects of a Specific Tax on Roses © 2007 Pearson Addison-Wesley. All rights reserved.

Page 293 Solved Problem 9.5 © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.9 Loss from Eliminating Free Trade © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 9.10 Effect of a Tariff (or Quota) © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.1 Average and Marginal Revenue © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.2 Elasticity of Demand and Total, Average, and Marginal Revenue © 2007 Pearson Addison-Wesley. All rights reserved.

Table 11.1 Quantity, Price, Marginal Revenue, and Elasticity for the Linear Inverse Demand Curve © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.3 Maximizing Profit © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.4 Effects of a Shift of the Demand Curve © 2007 Pearson Addison-Wesley. All rights reserved.

Table 11.2 Elasticity of Demand, Price, and Marginal Cost © 2007 Pearson Addison-Wesley. All rights reserved.

Page 357 Solved Problem 11.1 © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.5 Deadweight Loss of Monopoly © 2007 Pearson Addison-Wesley. All rights reserved.

Page 361 Solved Problem 11.2 © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.7 Natural Monopoly © 2007 Pearson Addison-Wesley. All rights reserved.

Application (Page 366) Electric Power Utilities © 2007 Pearson Addison-Wesley. All rights reserved.

Application (Page 369) Botox Patent Monopoly © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.8 Optimal Price Regulation © 2007 Pearson Addison-Wesley. All rights reserved.

Figure 11.9 Regulating a Telephone Utility © 2007 Pearson Addison-Wesley. All rights reserved.

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