profit maximization

English - English

Definition of profit maximization in English English dictionary

(Ekonomi) In economics, profit maximization is the process by which a firm determines the price and output level that returns the greatest profit. There are several approaches to this problem. The total revenue -- total cost method relies on the fact that profit equals revenue minus cost, and the marginal revenue -- marginal cost method is based on the fact that total profit in a perfectly competitive market reaches its maximum point where marginal revenue equals marginal cost

Hyphenation

prof·it max·i·mi·za·tion

Turkish pronunciation

präfıt mäksîmîzeyşın

Pronunciation

/ˈpräfət ˌmaksəməˈzāsʜən/ /ˈprɑːfət ˌmæksɪmɪˈzeɪʃən/