MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
11th Edition
ISBN: 9781264207718
Author: Colander
Publisher: MCG CUSTOM
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Chapter 13.1, Problem 4Q
To determine

Reason for maximizing total profit by a firm rather than per unit profit.

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At what output rate does the firm maximize profit or minimize loss?
Why do a firm's profit disappear in the long run?
Explain why optimal profits should occur when marginal cost equals marginal revenue.
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