Assignment Help - homework help

  Profit Maximisation and Loss Minimisation Homework Help

Profit Maximisation or Loss Minimisation Determination are described below

1. Total Revenue-Total Cost Approach

a)      If total the Revenue is larger than total Cost, profit can be maximised when the distance or difference between TR and TC is the largest, as given below.

144_profit maximize.png

b)      If entire/total cost (TC) is greater than the total revenue (TR), then losses can be decreased when the distance or the difference between TC and TR is minimum, as drawn below.

82_profit maximize1.png

Marginal Revenue-Marginal Cost Approach is described below

¨      If MR > MC, the firm should raise output to make the additional income.

¨      If MR < MC, the firm should decrease the output to ensure the additional income is not reduced.

¨      Therefore, the level of output which will maximize profits or minimize the losses is where MC = MR and where MC cuts MR from below.

Illustration

1628_profit maximize2.png

Email based economics assignment help - homework help at TutorsGlobe

Are you searching economics tutor for help with Profit Maximisation and Loss Minimisation questions?  Profit Maximisation and Loss Minimisation topic is not easier to learn without external help?  We at www.tutorsglobe.com offer finest service of economics homework help and economics homework help. Live tutors are available for 24x7 hours helping students in their Profit Maximisation and Loss Minimisation related problems. We provide step by step Profit Maximisation and Loss Minimisation question's answers with 100% plagiarism free content. We prepare quality content and notes for Profit Maximisation and Loss Minimisation topic under economics theory and study material. These are avail for subscribed users and they can get advantages anytime.

Why TutorsGlobe for homework help

  • Higher degree holder and experienced tutors network
  • Punctuality and responsibility of work
  • Quality solution with 100% plagiarism free answers
  • Time on Delivery
  • Privacy of information and details
  • Excellence in solving accounting questions in excels and word format.
  • Best tutoring assistance 24x7 hours
Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

©TutorsGlobe All rights reserved 2022-2023.