Posted: April 5th, 2016

What is the loss minimizing output level for the firm?

The Global Investment Group, LLC operates in a perfectly competitive industry with the following Cost and Revenue data: 1. Average Total Cost = 0; Quantity sold = 7000 Units; Average Revenue = $200; Marginal Revenue = $200; Marginal Cost = $200: (a) What is the loss minimizing output level for the firm? (b) What is the Average Profit or Loss for the firm? (c) What is the Total Profit or Loss for the firm?