Perfect Competition (Part 2): Making Economic Profits
Автор: Econbusters
Загружено: 2021-11-07
Просмотров: 1627
Описание: Perfectly competitive firms can only make economic profits (abnormal profits) in the short-run. They will make profits if the ATC (at the output level) is below MR, MC, and price. The firm will produce as long as MR exceeds MC. The firm maximizes profits if production continues until MR equals MC. This video is made for 1st year college students or AP/IB Economics students. It focuses on foundational economic concepts.
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