Given quantity, total cost, and a perfectly competitive firm, how much should an organization produce and what will be the profit? Watch as the concept of profit maximization is broken down and explained with real-time illustrations and graphs.

Additional Tags

profit maximizing rule, profit maximization, social studies

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Instructional Ideas

• Use as a follow up after introducing concept of perfect competition
• Include on class website for learners to use as review

Classroom Considerations

• Class members should know how to calculate marginal cost

• This video is hosted on YouTube

Pros

• Key steps of process are identified in text at bottom of screen throughout video
• Discusses price in perfect competition, marginal cost, and total revenue

Cons

• None

Common Core

RH.11-12.1 RH.11-12.2 RH.11-12.4