Microeconomics Practice Problem – Cost Curves, Economic Profit, and Supply

Summary:
This video shows how to determine at what prices a firm will be making an economic profit and at what prices a firm will want to shut down. It also explains at what prices a firm's supply curve will give positive quantities of production The problem is taken from Principles of Microeconomics by Dirk Mateer and Lee Coppock, and is Ch. 9 problem #5. See the "Practice Problems" playlist for an archive of daily practice problems. For more information and a complete listing of videos and online articles by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other EDIWM items, see http://www.economistsdoitwithmodels.com/merch/ By Jodi Beggs - Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook:

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