Alternatives and Supplements: Fun on the Internet
Back to Overview
Back to Table of Contents

Maximizing Profits


Economist Lester Thurow writes about profit for The Concise Encyclopedia of Economics:

Profit, Prinicipals, and Agents

One of the reasons that firms might not actually maximize profit is something called the principal-agent problem, which is explained in this piece from a publication from India:

Searching for Total Cost

(I have not yet found an appropriate entry for these topic.)

Profit-Maximizing Output

Arnold Kling explains profit maximization in his class notes:

Profit-Maximizing Input

Roger McCain, author of the on-line economics textbook Essential Principles of Economics: A Hypermedia Text, explains the profit-maximizing amount of labor:

Profit in Real Firms

Here is an entry from a popular economics blog there is. It raises more questions than it answers.

Application of the Theory

Sweatshops conditions appall many people in rich countries, but should sweatshops be abolished? Economists say that you need to consider the alternatives before you answer that question. Opportunity costs should not be ignored.

These links were checked on July 5, 2008.

Back to Overview
Copyright Robert Schenk

Why is this page here?