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Maximizing Profit and the Shut Down Rule- Micro Topics 3.5 and 3.6

Duration: 07:04Views: 104.9KLikes: 3.1KDate Created: Feb, 2021

Channel: Jacob Clifford

Category: Education

Tags: microeconomicscostsshutrevenuemaximizing profitmicrorulemr = mcshut downdownavc

Description: Hey econ students. If there is only ONE thing that you need to know for your microeconomics class and for running your own business it’s the profit-maximizing rule. You always produce where MR = MC. Well, not always. Sometimes you should shut down instead. In this video I show you the profit-maximizing rule and the shut down rule. Be sure to watch my other video where I explain how to maximize profit using a chart. Here is the link: youtu.be/BQvtnjWZ0ig Please subscribe and check out my Ultimate Review Packet: ultimatereviewpacket.com/courses/micro Thanks for watching.

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