The Firm and Its Constraints
An article on enotes.com explains circular flow, though
it does not have a picture, which might be helpful:
business.enotes.com/business-finance-encyclopedia/circular-flow
Thomas McGahagan of the University of Pittsburgh explains
the production function:
www.pitt.edu/~mgahagan/Prodfn.htm
Amosweb explains how the demand curve is the source of
the marginal-revenue curve:
www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=marginal+revenue
The concept of marginal revenue product is explained in
detail at amosweb.com:
www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=marginal+revenue+product
Textbooks traditionally show how firms maximize profits
using a variety of cost and revenue curves. About.com has a
good example of this approach in the form of a problem you
can work:
economics.about.com/od/coststructure/ss/revenue_costs.htm
These links were checked on July 5, 2008
 
Copyright
Robert Schenk
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