In The Provided Diagram At The Profit Maximizing Output Total Profit Is
Where total revenue exceeds total cost by the maximum amount. Segment of the mc curve lying to the right of output level h.
Draw The Demand Marginal Revenue Average Total Cost And Marginal
In the diagram provided above at the profit maximizing output total profit is a.
In the provided diagram at the profit maximizing output total profit is. In the same diagram above the short run supply curve for this firm is the d. At any point where the total revenue and total cost curves intersect. Refer to the above diagram.
Where the demand and the atc curves intersect. Produce because the resulting loss is less than its tfc. For the total profits to be maximum the first derivative of the total profit function should be zero.
A companys profit begins to diminish beyond this level. At the profit maximizing output the firm will realize. Tr tc.
The optimum level of output is the one that generates the highest profit which is called the profit maximizing output. That the profits are maximum at output level oq can be shown mathematically as under. That output at which economic profits are zero.
Therefore jh is the maximum profits that can be earned by the firm given the total revenue and total cost conditions. At the profit maximizing output total variable cost is equal to. Refer to the above diagram.
A firm finds that at its mr mc output its tc 1000 tvc 800 tfc 200 and total revenue is 900. In the short run a purely competitive firm that seeks to maximize profit will produce multiple choice a.
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