Profit maximization in the short run Cost Total revenue Revenue, R(q Profit (s per year) Slope of r(= MR Output (units per year) Chapter 8 Slide 13Chapter 8 Slide 13 Profit Maximization in the Short Run 0 Cost, Revenue, Profit ($s per year) Output (units per year) R(q) Total Revenue Slope of R(q) = MR