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Tidy Tidy
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9 years ago
To maximize profit, a firm will produce the level of output where MR = MC. If a firm actually makes a profit depends on the relationship of price to average total cost. What are the three possible relationships between price and average total cost that determine if a firm will make a profit, experience a loss, or break even?
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
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VincenzoDVincenzoD
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Tidy Author
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9 years ago
Smart ... Thanks!
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