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Micro: Unit 3.3 -- Profit Maximization

Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: Define marginal revenue (MR) Practice calculating the marginal cost and marginal revenue for a firm at different levels of output Explain how producing at an output where marginal revenue equals marginal cost ensures profit-maximization for a firm Analyze how changes to product price will alter the the profit-maximizing level of output produced by the firm Investigate how changes to production costs will alter the the profit-maximizing level of output produced by the firm Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video: https://www.teacherspayteachers.com/P... Follow our store on Teachers Pay Teachers https://www.teacherspayteachers.com/S... Look for us on Social Media: Instagram --   / youwillloveh.  . Facebook --   / youwilllovehi.  . Subscribe to our YouTube Channel:    / youwillloveeconomics   Check out our website for teaching tips and insight from us- https://sites.google.com/view/you-wil...