| Posted on April 14, 2014 at 8:05 PM |
A firm will maximize its economic profit (or minimize its losses) when it produces at a level of output where the marginal cost equals the marginal revenue (MR=MC). The price it charges its customers can be found on the corresponding demand curve.
AP Microeconomics Unit 2 Product Markets
Categories: AP Microeconomics, Micro Unit 2 Product Markets
The words you entered did not match the given text. Please try again.
Oops!
Oops, you forgot something.