Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7
Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?© BrainMass Inc. brainmass.com October 9, 2019, 9:40 pm ad1c9bdddf
Based on the data given, the firm is not making profit maximizing decision as the Marginal Cost ...
Discusses a profit maximizing decision.