O'Reilly logo

Economics by Terry Hillman

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER10

The Firm: Maximizing Profit

In This Chapter

  • What is a profit?
  • The cost structure of a firm
  • Maximizing profits
  • When a firm should call it quits
  • Short-run and long-run decisions of a firm

An entrepreneur who starts a company is enthusiastic about an idea and hopes to launch a profitable business. That’s a worthwhile plan because being creative, building something from nothing, and also being able to make a living doing what you love is the best of all worlds. Every successful business was started by someone with an idea.

This chapter describes what all businesses need to know: how much to produce in order to maximize profits. Each industry ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required