Concept of profit maximization
I am so lost-please help me understand. I need to fully understand so that when I take the final I can pass it. Please use an American company and please keep it as simple as possible..see attached file for full problem.
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The concept of profit maximization is presented.
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Take a real-life example of a for-profit corporation or small business with which you are familiar. Compare the
modus operandi of the firm with the concept of profit maximization.
Use Microsoft Excel to plot the required curves. Also create a Microsoft Word document to record the findings
based on the curves.
Illustrated the price elasticity of demand for the good. 5
Described profit maximization and illustrated it graphically. 10
Described the balance of fixed and variable costs of the selected firm. 10
Explained the market form of the selected firm and graphically illustrated
profit maximization of the firm.
Explained to what extent theoretical profit maximization is applicable to
the selected example.
Most firms produce multiple products, so you need to pick just one product to keep the analysis simple.
It could be a particular brand of automobile, even though car companies produce many types of
vehicles. You should be able to get any financial data you need for your firm from yahoo finance.