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Nica Nica
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5 years ago
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?
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
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#1
5 years ago
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.
Nica Author
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#2
5 years ago
This site is awesome!
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#3
5 years ago
Slight Smile Good luck on the rest
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