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Title: What is the short-run break-even price? What are economic profits at this price? Why would a firm be ... Post by: Nica on Mar 3, 2019 What is the short-run break-even price? What are economic profits at this price? Why would a firm be willing to operate permanently at this price?
Title: What is the short-run break-even price? What are economic profits at this price? Why would a firm be ... Post by: jrhome1985! on Mar 3, 2019 The short-run break-even price is the price at which total revenue equals total costs, so that economic profits equal zero. The firm is willing to stay in business at zero economic profits because all opportunity costs are covered, including the opportunity costs of the entrepreneur's time and any other resources he or she brings into the firm. The zero economic profits are associated with a normal rate of return, and the entrepreneur cannot expect to do better anywhere else.
Title: What is the short-run break-even price? What are economic profits at this price? Why would a firm be ... Post by: Nica on Mar 3, 2019 This site is awesome!
Title: What is the short-run break-even price? What are economic profits at this price? Why would a firm be ... Post by: jrhome1985! on Mar 3, 2019 :) Good luck on the rest
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