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Unit: Production decisions and economic profit

Introduction to production and costs

Learn

Practice

Production and costs in the short run

Learn

Practice

Production and costs in the long run

Learn

Practice

Quiz 1

Identify your areas for growth in these lessons:
Introduction to production and costs
Production and costs in the short run
Production and costs in the long run

Types of profit

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Practice

Profit maximization

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Practice

Firm entry, exit, and the shut-down rule

Learn

Practice

Quiz 2

Identify your areas for growth in these lessons:
Types of profit
Profit maximization
Firm entry, exit, and the shut-down rule

Unit test

Test your understanding of Production decisions and economic profit with these 9 questions.

About this unit

Making and selling something? You probably want to maximize profit, which is the amount of money you make minus the amount it costs you to produce that item or service. Learn about how production, cost factors , and planning ahead can influence profit.