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profit maximization (L2)<br />A possible goal for a firm implemented by setting prices SO that MARGINAL REVENUE equals MARGINAL COST. When, at the margin, revenue is greater than cost, total profits could be increased by further output; when costs are greater than revenue, total profits decline. In the diagram the total profits curve is plotted by calculating the vertical distances between the total costs and total revenue curves. Up to output OM total profits are increasing as marginal revenue is greater than marginal cost; after output OM marginal cost is greater than marginal revenue and so total profits decline. At OM, where total profits are at a maximum, marginal revenue is equal to marginal cost. Traditionally regarded as the central aim of the capitalist firm. & Total costs<br /><em>See also:</em> managerial models of the firm
<strong>Federal Register</strong> – A federal government publication that lists regulations, regulatory amendments, notices, and proposed regulatory changes for all federal executive agencies.
<strong>Unsolicited response file</strong> – A CommonLine file containing “M records,” or modification records sent in response to status updates and changes made by a source other than a school' s CTSF.
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