In a competitive industry the market-determined price is 3


In a competitive industry, the market-determined price is $3. A firm in this market is producing 36,000 units of output, and, at this output level, the firm’s average total cost reaches its minimum value of $3. How much total profit is the firm making? Is this firm making the profit-maximizing decision? Why or why not? If not, what should the firm do?

Request for Solution File

Ask an Expert for Answer!!
Business Economics: In a competitive industry the market-determined price is 3
Reference No:- TGS01550576

Expected delivery within 24 Hours