Average costs (ATC, MC) and marginal revenue (MR)'s Full Profile
In this tutorial, Sal uses the example of an orange juice business to help us understand the ideas of average total cost (ATC), marginal cost (MC) and marginal revenue (MR). We then use this understanding to answer the age-old question, "how much orange juice should I produce?" Finally, we use these ideas to construct a long-run supply curve. A must watch if you're interested in making juice!
Days of the Week:
Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday
- Level of Difficulty: Beginner
- Size: One-on-One
- Instructor: Sal Khan
- Cost: Free
- Institution: Khan Academy
- Topics: Finance, Economics
About Khan Academy:
Khan Academy is an organization on a mission. Khan Academy is a not-for-profit with the goal of changing education for the better by providing a free world-class education for anyone anywhere.
Khan Academy Offers Courses In:
Social Science, Business
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