PPT-Profit Maximization

Profit Maximizing Assumptions Firm Technical unit that produces goods or services Entrepreneur owner and manager Gains the firms profits and suffers losses and has the goal of maximizing profit. Honglei. . Zhuang. , . Yihan. Sun, Jie Tang, Jialin Zhang, Xiaoming Sun. Influence Maximization. 0.6. 0.5. 0.1. 0.4. 0.6. 0.1. 0.8. 0.1. A. B. C. D. E. F. Probability . of . influence. Marketer Alice. Machine Learning. Last Time. Expectation Maximization. Gaussian Mixture Models. Today. EM Proof. Jensen’s Inequality. Clustering sequential data. EM over . HMMs. EM in any Graphical Model. Gibbs Sampling. How do businesses decide what price to charge and how much to produce?. It depends on the . character of its industry. .. Classroom Concerns. Attendance Issues* 15 Limit. Tardiness. Uniform. Assignment Completion. Profit-Maximization. Economic Profit. A firm uses inputs j = 1…,m to make products i = 1,…n.. Output levels are y. 1. ,…,y. n. .. Input levels are x. 1. ,…,x. m. .. Product prices are p. 1. ,…,p. Honglei. . Zhuang. , . Yihan. Sun, Jie Tang, Jialin Zhang, Xiaoming Sun. Influence Maximization. 0.6. 0.5. 0.1. 0.4. 0.6. 0.1. 0.8. 0.1. A. B. C. D. E. F. Probability . of . influence. Marketer Alice. Xinran He . and David Kempe. University of Southern . California. {xinranhe, . dkempe. }@usc.edu. 08/15/2016. The adoption of new products . can . propagate between nodes . in the social network. 0.8. Winter 2012. Daniel Weld. Slides adapted from Carlos . Guestrin. , Dan Klein & Luke . Zettlemoyer. Machine Learning. 2. Supervised Learning. Parametric. Reinforcement Learning. Unsupervised Learning. Marginal Revenue (MR): . Change. in the firm’s total revenue resulting from a . one unit change. in production.. Marginal Cost (MC): . Change. in the firm’s total cost resulting . from . a . one unit change . . The costs that an organization incurs even when there is little or no activity are . fixed costs. , or . overhead. .. Finding Marginal Cost. . Variable costs . are usually associated with labor and raw materials and change with the business’s rate of operation or output.. Prepared by. ANINDITA CHAKRAVARTY. INTRODUCTION. An extreme form of collusion is found when the member firms agree to surrender completely their rights of price and output determination to a . ‘Central Administrative Agency’ . Mr. Henry. AP Economics. AP Review . Questions from Yesterday. A requirement of perfect competition is that. Many firms sell an identical product to many buyers. There are no restrictions on entry into (or exit from) the market, and established firms have no advantage over new firms. Topic 2 | Part 1 21 February 2013. Date. . A. ntitrust Economics 2013. David S. Evans. University of Chicago, Global Economics Group. . Elisa Mariscal. CIDE, ITAM, CPI. . Overview. Firms consider consumer demand in assessing how much revenue they can earn. Economics. 2 Emmanuel . Saez. Fall 2024. I.Firms. and the Decisions They Make. Three Decisions a Firm Has to Make. Acknowledgments. This PowerPoint presentation is based on and includes content derived from the following OER resource:. Principles of Microeconomics. An OpenStax book used for this course may be downloaded for free at:.