How much total profit is the firm making

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In a competitive industry, the market-determined price is $3. A firm in this market is producing 36,000 units of output, and, at this output level, the firm’s average total cost reaches its minimum value of $3. How much total profit is the firm making? Is this firm making the profit-maximizing decision? Why or why not? If not, what should the firm do?

Reference no: EM131167314

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