Microeconomics

Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors

Perfect Competition

Perfect Competition Profit on the Graph

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It's not microeconomics until we bust out the graph!

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concept

Profit on the Graph in Perfect Competition

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Problem

If the firm decreases its production from Q2 to Q1, it will 

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Problem

If the price is P1, the firm maximizes profit by producing 

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Problem

If the price is P1, the firm is