Economic profit is the total revenue generated by a business minus total opportunity costs. It is a more theoretical way of looking at a company's profitability that differs from the standard accounting profit reflected ... More »

The formula for profit is total revenue minus total expenses, resulting in net profit, according to Accounting Tools. Company finance officials review net income often to determine the viability of the company. More »

In economics, profit maximization refers to the process by which a business assesses the price and output of goods in order to ensure the greatest profit. During the assessment, businesses will determine the expense of f... More »

The profit maximizing rule stats that profit = total revenue - total costs, meaning that profit maximization occurs where the largest gap between total revenue and total cost is found. The rule is by no means concrete wh... More »

The formula for profit is total revenue minus total expenses, resulting in net profit, according to Accounting Tools. Company finance officials review net income often to determine the viability of the company. More »

The formula for total profit, or net profit, is total revenue in a given period minus total costs in a given period. If a business generates $250,000 in total revenue in a quarter, but has $215,000 in total costs, its to... More »

An example of the prisoners' dilemma applied to economics might be two competing firms selling similar products that find if one lowers their prices, the other has to follow, which ultimately leaves them both with less p... More »