{"id":33330,"date":"2015-10-24T04:00:33","date_gmt":"2015-10-24T08:00:33","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=33330"},"modified":"2017-07-14T10:14:49","modified_gmt":"2017-07-14T14:14:49","slug":"maximizing-profit-and-the-average-cost-curve","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2015\/10\/24\/maximizing-profit-and-the-average-cost-curve\/","title":{"rendered":"Maximizing Profit and the Average Cost Curve"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/hl5HqR8bCio\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 18 Mar 2015<\/strong><\/p>\n<p>Being able to predict your company\u2019s profit is a very useful tool. In this video, we introduce the third concept you need to maximize profit \u2014 average cost. When looked at in conjunction with the marginal revenue and marginal cost, the average cost curve will show you how to accurately predict how much profit you can make!<br \/>\nThe usefulness of these tools does not stop there. Sometimes, you can\u2019t make a profit. You\u2019ll have to take a loss. These tools can also show you how to minimize losses, and make decisions on whether a company should enter or exit an industry.<br \/>\nWe also define terms such as zero profits and sunk costs in this video.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 18 Mar 2015 Being able to predict your company\u2019s profit is a very useful tool. In this video, we introduce the third concept you need to maximize profit \u2014 average cost. When looked at in conjunction with the marginal revenue and marginal cost, the average cost curve will show you how to accurately [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[1026,1143],"class_list":["post-33330","post","type-post","status-publish","format-standard","hentry","category-economics","tag-microeconomics","tag-principlesofeconomics"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-8FA","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=33330"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33330\/revisions"}],"predecessor-version":[{"id":33331,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33330\/revisions\/33331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=33330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=33330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=33330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}