Examlex
In this dialogue Berkeley defends his belief that only ideas exist. "To be is to be perceived"-to be is to be an idea in a mind-and hence matter existing apart from the mind does not exist. In this dialogue Hylas (from the Greek word for "matter") debates with Philonous (from the Greek "love of mind"). The unique thing about Berkeley's idealism is that unlike traditional idealism (e.g., Plato's), it is not rationalistic. Berkeley does not propose that ideas exist independently but rather assumes an empirical foundation. He agrees with Locke that all ideas originate in sense experience and proceeds to show that all we ever experience are ideas. The only reality that exists to be known is perceivers and perceptions. To hold all of this ideal reality together one must posit a Divine mind that perceives us and hence causes our existence as ideas in the Divine's mind.
-Hume's view of empiricism would demolish all metaphysical speculation.
Profit-maximizing
Profit-maximizing refers to strategies or behaviors undertaken by firms aiming to achieve the highest possible profit from their operations.
Economic Profit
The differential tally between gross receipts and total obligations, including costs both acknowledged and undeclared.
Average Variable Cost
The total variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.
MR = MC
Marginal Revenue equals Marginal Cost; a condition used to determine the profit-maximizing level of output for a firm.
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