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#cfa #cfa-level-1 #economics #has-images #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit
Point D, which corresponds to output Q3, is a position where economic profit occurs because price is greater than ATC.
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cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
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cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
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