# Register now to access 7 million high quality study materials (What's Course Hero?) Course Hero is the premier provider of high quality online educational resources. With millions of study documents, online tutors, digital flashcards and free courseware, Course Hero is helping students learn more efficiently and effectively. Whether you're interested in exploring new subjects or mastering key topics for your next exam, Course Hero has the tools you need to achieve your goals.

3 Pages

### Handout5-ProfitMaximizingBehavior

Course: MBA 520, Spring 2010
School: Ill. Chicago
Rating:

Word Count: 231

#### Document Preview

Maximizing Profit Decision Guidelines How Much To Produce (Step 1): Suppose a seller increases the amount produced and that while doing so MR &gt; MC, should the seller continue increase output? Why? Instead, suppose that the result from increasing the amount produced is that MR &lt; MC. Should the seller increase production of that good or service? Why? By deduction then, the best level of output in...

Register Now

#### Unformatted Document Excerpt

Coursehero >> Illinois >> Ill. Chicago >> MBA 520

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.
Maximizing Profit Decision Guidelines How Much To Produce (Step 1): Suppose a seller increases the amount produced and that while doing so MR > MC, should the seller continue increase output? Why? Instead, suppose that the result from increasing the amount produced is that MR < MC. Should the seller increase production of that good or service? Why? By deduction then, the best level of output in terms of profitability would be the level at which MR = MC, AND as production increases beyond this amount, MR < MC. Profit Maximizing Decision Guidelines Page 2 Whether or not to produce the profit maximizing level of output (Step 2): If P is greater than or equal AVC at the profit maximizing level of output, makes it sense to produce at that level If P less than AVC at the profit maximizing level of output, it makes sense to temporarily shut-down loss is minimized by paying fixed costs only (operating losses will exceed fixed costs) Profit Maximizing Decision Guidelines Page 3 Notes: Guidelines apply to both profit maximization and loss minimization Profit maximization or loss minimization, in the short-run, is not necessarily at the level of output that minimized ATC the level of output with the lowest unit costs of production does not necessarily ensure that profit will be maximized or loss minimized the short-run supply curve for an individual seller is the MC curve beginning and above the minimum AVC
Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Ill. Chicago - MBA - 520
Characteristics of a Perfectly Competitive Market Characteristic 1: There are many buyers and sellers, each too small to influence the market price of the good or serviceCharacteristic 2: The product or service in question is standardized; buyers believe
Ill. Chicago - MBA - 520
Characteristics of a monopoly marketCharacteristic 1: One seller controls the price by controlling the amount of a good or service supplied to the market a single business is the entire industry for a given market Characteristic 2: No close substitutes f
Ill. Chicago - MBA - 520
Price Elasticity of Demand How sensitive is the demand for a product or service to a change in the price of that product or service?Price elasticity of demand (EP) is a measure that tells us how much quantity demanded is going to change in response to a
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 01 Due 09/13/10( Show your work for each problem. Partial credits are awarded.)1. Calculate the minimum coecient of friction necessary to keep a thin circular ring fr
Duke - MEDPHYS - MP200
MP200 - Radiation Physics Fall 2010 Assignment 02 Due 09/22/10( Show your work for each problem. Partial credits are awarded.)1. (Problem # 02 on page 18 of Attix ) The following set of counts readings was made in a gradient-free ray eld, using a suitab
Duke - MEDPHYS - MP230
11.0 Ultrasound Imaging Systems After plane film x-ray, ultrasound is one of the most widely used medical imaging system due to low risk, low cost and portability. Most systems use a single transducer in the so-called pulse-echo format, where the transduc
Duke - MEDPHYS - MP200
MP200 - Radiation Physics Fall 2010 Assignment 02 Due 09/22/10( Show your work for each problem. Partial credits are awarded.)1. (Problem # 02 on page 18 of Attix ) The following set of counts readings was made in a gradient-free ray eld, using a suitab
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 03 Due 10/04/10( Show your work for each problem. Partial credits are awarded.)1. The integral (a) 0 (b) 1 21 x 0 xe dxhas the value of (c) 1 (d) 3 (e) 2 22. A 200
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 03 Due 10/04/10( Show your work for each problem. Partial credits are awarded.)1. The integral (a) 0 (b) 1 2 Solution1 01 x 0 xe dxhas the value of (c) 1 (d) 3 (e)
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 04 Due 10/13/10( Show your work for each problem. Partial credits are awarded.)1. + decay is associated with what type of neutrino: (a) a neutrino (b) an antineutrino
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 05 Due 10/27/10( Show your work for each problem. Partial credits are awarded.)1. When ordinary sulfur, 32 S , is bombarded with neutrons, the prod16 32 ucts are 15 P
Duke - MEDPHYS - MP200
Duke University Medical Physics Program MP200 - Radiation Physics Fall 2010 Assignment 06 Due 11/05/10( Show your work for each problem. Partial credits are awarded.)1. Derive equations 7.8, 7.9 and 7.10 Attix page 127. i.e. h h = h 1 + ( m0 c2 )(1 cos
Duke - MEDPHYS - MP200
37480 Tipler(Freem)RIGHTINTERACTIVEtop of RH base of RHMoreDerivation of Comptons EquationLet 1 and 2 be the wavelengths of the incident and scattered x rays, respectively, as shown in Figure 3-21. The corresponding momenta are p1 and p2 E2 c h2to
Duke - MEDPHYS - MP200
RadiationPhysicsHomework1Solutions HaoLi Sept.2010 2.&lt; x &gt;= x ( x, t ) dx = 2202 2 x 2 x 2 xL 4 x L2 4 x L x sin 2 ( )dx = [ sin( ) cos( )] = 2 L L L 4 8 L 32 L0222&lt; x &gt;= x ( x, t ) dx = 2 2 202 2 2 x 2 x2 xL2 4 x 8 2 x 2 L L3 4 x x sin ( )dx =
Duke - MEDPHYS - MP200
MP200RadiationPhysics Assignment04Solution HaoLi Oct.2010. 1. A. 2. B. Thegrandunifiedtheoryreferstoanyofseveralsimilarmodelsinparticlephysicsthatthree gaugeinteractionsinthestandardmodel,whichdefineEM,weakandstronginteractions,are mergedintoonesingleinte
Duke - MEDPHYS - MP200
inelastic relativistic collisionA particle of mass m, moving at speed v = 4c/5, collides inelastically with a similar particle at rest. (a) What is the speed vC of the composite particle? (b) What is its mass mC?Solution by Rudy Arthur:Call the moving
Duke - MEDPHYS - MP200
Inelastic Relativistic CollisionA particle of mass m, moving at speed v = 4c/5, collides inelastically with a similar particle at rest. (a) What is the speed vC of the composite particle? (b) What is its mass mC?Solution by Michael Gottlieb:(I choose u
Duke - MEDPHYS - MP200
Inelastic Relativistic CollisionA particle of mass m, moving at speed v = 4c/5, collides inelastically with a similar particle at rest. (a) What is the speed vC of the composite particle? (b) What is its mass mC?Solution by Ilkka Mkinen:Call the frame
Duke - MEDPHYS - MP200
Lesson 01 From Modern Physics to Radiation Physics MP 200 Radiation Physics- 2010 Duke Medical Physics Graduate Program1IntroductionIn order to study Radiation Physics in detail, we need a knowledge of: Classical mechanics, Special theory of relativity
Duke - MEDPHYS - MP200
Lesson 01-contd. Ionizing Radiation MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Ionizing RadiationSubatomic particles or electromagnetic waves that are energetic enough to detach the electrons from atoms or molecules are called
Duke - MEDPHYS - MP200
Lesson 02 Atom MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionA Brief History of Atom: Daltons Laws In the early 19th century, Dalton formulated his laws of the atom: 1. All elements are composed of atoms, which are in
Duke - MEDPHYS - MP200
Lesson 03 Quantities for Describing the Interaction of Radiation with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Quantities for describing the interaction of radiation with matterThree nonstochastic quantities that are
Duke - MEDPHYS - MP200
Lesson 04 Exponential Attenuation MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionThis concept is relevant primarily to uncharged ( photons, neutrons) radiation. Charged particles undergo many small collisions and lose
Duke - MEDPHYS - MP200
Lesson 05 Charged Particle and Radiation Equilibria MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionThe concepts of radiation equilibrium (RE) and charged particle equilibrium (CPE) are useful as a means of relating cer
Duke - MEDPHYS - MP200
Lesson 06 Structure of the Nucleus MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionIn this lesson, we will study, Basic Structure and the stability of the nucleus. Binding Energy. Liquid Drop Model (Semi-Empirical Mass
Duke - MEDPHYS - MP200
Lesson 06 Structure of the Nucleus MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionIn this lesson, we will study, Basic Structure and the stability of the nucleus. Binding Energy. Liquid Drop Model (Semi-Empirical Mass
Duke - MEDPHYS - MP200
Lesson 07 Radioactivity 01 MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionIn this lesson, we will study, the processes and kinematics of, , and decays, Electron Capture, Internal Conversion and, Auger ElectronRadioact
Duke - MEDPHYS - MP200
Lesson 08 Absorbed Dose in Radioactive Media MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionThe computation of absorbed dose is straightforward for CPE and RE conditions. But it is more dicult for intermediate situatio
Duke - MEDPHYS - MP200
Lesson 09 Radioactivity - 02 MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Exponential Decay and Decay ConstantConsider a large number of radioactive atoms N0 at time t = 0. At any time t, number of atoms left is N . n = number o
Duke - MEDPHYS - MP200
Lesson 09 Radioactivity - 02 MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Exponential Decay and Decay ConstantConsider a large number of radioactive atoms N0 at time t = 0. At any time t, number of atoms left is N . n = number o
Duke - MEDPHYS - MP200
Lesson 10a Interaction of Photons with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionPhoton interaction with matter is either with the nuclei or the orbital electrons of atoms in the medium. There are ve types
Duke - MEDPHYS - MP200
Lesson 10b Interaction of Photons with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Photoelectric EectThe emission of electrons from a metal surface as a result of light absorption is called the Photoelectric eect. It is
Duke - MEDPHYS - MP200
Lesson 11a Interactions of Charged Particles with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1IntroductionCharged particles lose their energy in a manner that is distinctly different from that of uncharged radiations ( p
Duke - MEDPHYS - MP200
Lesson 11b Interactions of Charged Particles with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Dependence on the mediumdT dx Zz 2 2 = 0.3071 2 13.8373 + ln 2 ln I M eV.cm2 .g 1 2 A 1 cWhen Z (medium) is increased, the
Duke - MEDPHYS - MP200
Lesson 11c Interactions of Electrons with Matter MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Interactions of electrons with MatterIn this lesson, electrons and positrons are grouped together and called beta particles. Since all
Duke - MEDPHYS - MP200
Lesson 11d Calculation of absorbed dose MP200 Radiation Physics - 2010 Duke Medical Physics Graduate Program1Calculation of absorbed doseIn this section, we calculate doses in thin foils and thick foils due to heavy ( monoenergetic and monodirectional)
Duke - MEDPHYS - MP200
Mass-Energy Equivalence and Relativistic Inelastic CollisionsJason Harlow and David M. Harrison Department of Physics University of TorontoIntroductionEinstein was led to mass-energy equivalence by considering the interaction between a charged particle
Duke - MEDPHYS - MP200
InstructionsWrite your name in the given space. For problems 1 - 2 and 4 - 16, Circle the correct answer. Problem 3, True or False type. Write True or False for each part. For problems 17 - 27, Use the given space.Useful values:1 u = 931.5 M eV hc = 12
Duke - MEDPHYS - MP200
Name:For TA/Instructor Use Only. Problem # Points 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 TOTAL1InstructionsWrite your name in the given space. For problems 1 - 18, Circle the correct answer. For problems 19 - 25, Us
Duke - MEDPHYS - MP200
WEIGHTED STANDARD DEVIATIONStatistics LET SubcommandsWEIGHTED STANDARD DEVIATIONPURPOSECompute the weighted standard deviation of a variable.DESCRIPTIONThe formula for the standard deviation is: ( xi x ) 2s= while the formula for the weighted stan
Duke - MEDPHYS - MP230
12.0 Physics of Magnetic ResonanceMRI produces high-resolution, high-contrast cross-sectional images throughout the head and body. Like ultrasound, it is non-invasive, limited mainly by power deposition. MRI is also limited by the fact that the signal is
Duke - MEDPHYS - MP230
12.0 Physics of Magnetic ResonanceMRI produces high-resolution, high-contrast cross-sectional images throughout the head and body. Like ultrasound, it is non-invasive, limited mainly by power deposition. MRI is also limited by the fact that the signal is
Duke - MEDPHYS - MP230
13.0 Magnetic Resonance ImagingWe have previously covered the basic principles of the formation of a samples magnetization when placed in a magnetic field. This is the way NMR was done since the 1940s. In the early 1970s, Paul Lauterbur had the idea to s
Duke - MEDPHYS - MP230
13.0 Magnetic Resonance ImagingWe have previously covered the basic principles of the formation of a samples magnetization when placed in a magnetic field. This is the way NMR was done since the 1940s. In the early 1970s, Paul Lauterbur had the idea to s
Duke - MEDPHYS - MP230
13.0 Magnetic Resonance ImagingWe have previously covered the basic principles of the formation of a samples magnetization when placed in a magnetic field. This is the way NMR was done since the 1940s. In the early 1970s, Paul Lauterbur had the idea to s
Duke - MEDPHYS - MP230
13.0 Magnetic Resonance ImagingWe have previously covered the basic principles of the formation of a samples magnetization when placed in a magnetic field. This is the way NMR was done since the 1940s. In the early 1970s, Paul Lauterbur had the idea to s
Duke - MEDPHYS - MP230
13.0 Magnetic Resonance ImagingWe have previously covered the basic principles of the formation of a samples magnetization when placed in a magnetic field. This is the way NMR was done since the 1940s. In the early 1970s, Paul Lauterbur had the idea to s
Duke - MEDPHYS - MP230
For each imaging modality we examine we want to know: 1. What are the fundamental physics that underpin the modality? 2. What is the input, what is the output (how do we make an image)? 3. What is the basic cascade of subsystems (what is the hardware diag
Duke - MEDPHYS - MP230
For each imaging modality we examine we want to know: 1. What are the fundamental physics that underpin the modality? 2. What is the input, what is the output (how do we make an image)? 3. What is the basic cascade of subsystems (what is the hardware diag
Duke - MEDPHYS - MP230
Background: DefinitionsPolarization is the amount of charge associated with the dipolar or free charge in a dielectric Pyroelectricity: when temperature increased, electric charges appear on the surface of the crystal (tourmaline the Ceylon magnet, 1703)
Duke - MEDPHYS - MP230
10.0 The Physics of Ultrasound Ultrasound is sound with frequencies higher than the highest frequency that can be heard by human beings &gt;20KHz). Medical ultrasound operates typically between 1 and 10MHz. The propogation characteristics are defined in the
Duke - MEDPHYS - MP230
10.0 The Physics of Ultrasound Ultrasound is sound with frequencies higher than the highest frequency that can be heard by human beings &gt;20KHz). Medical ultrasound operates typically between 1 and 10MHz. The propogation characteristics are defined in the
Duke - MEDPHYS - MP230
11.0 Ultrasound Imaging Systems After plane film x-ray, ultrasound is one of the most widely used medical imaging system due to low risk, low cost and portability. Most systems use a single transducer in the so-called pulse-echo format, where the transduc
Duke - MEDPHYS - MP230
For each imaging modality we examine we want to know: 1. What are the fundamental physics that underpin the modality? 2. What is the input, what is the output (how do we make an image)? 3. What is the basic cascade of subsystems (what is the hardware diag
Duke - MEDPHYS - MP230
ieee transactions on ultrasonics, ferroelectrics, and frequency control, vol. 51, no. 2, february 2004211Characterizing Ultra-Thin Matching Layers of High-Frequency Ultrasonic Transducer Based on Impedance Matching PrincipleHaifeng Wang and Wenwu CaoA
Duke - MEDPHYS - MP230