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May 10, 2024

In my example of profit maximization for a firm, what is the lowest quantity at which the firm earns positive profit?

General Question

In my example of profit maximization for a firm, what is the lowest quantity at which the firm earns positive profit?

In the context of my final open-ended question for the chapter, I give a list of issues that are assumed away in the model of perfect competition. Choose one of those listed issues and briefly explain in your own words why it could cause a problem with the model of perfect competition.

In your own words, write a brief 1 or 2 sentence summary of the chapter 8 lecture videos for our course.

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