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Tidy Tidy
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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?
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Essentials of Economics

Essentials of Economics


Edition: 4th
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VincenzoDVincenzoD
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More solutions for this book are available here
 If P > ATC, the firm makes a profit.
If P < ATC, the firm experiences a loss.
If P = ATC, the firm breaks even.

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