Instructional Video

Khan Academy: Economic Profit for Firms in Perfectly Competitive Markets

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An important skill in microeconomics is the ability to find a firm's profit. Learn more about how to use a graph to identify the profit-maximizing quantity for a firm in a perfectly competitive market, and identify the area that represents the firm's profit or loss. [8:14]

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Concepts
demand curve, profit
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Additional Tags
loss, marginal revenue, market price, supply curve, khan academy, khan academy: economic profit for firms in perfectly competitive markets, perfectly competitive market, profit-maximizing quantity, economic profit
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Resource Details
Grade
9th - 10th
Subjects
Social Studies & History
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Resource Type
Instructional Videos
Audiences
For Administrator Use
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