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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
In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost.
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point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. <span>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 also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period o
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point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. <span>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 also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period o
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