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Produce where MR=MCMR = MCMR=MC
P=AR=MRP = AR = MRP=AR=MR
AR>ACAR > ACAR>AC or P>ACP > ACP>AC
AR<ACAR < ACAR<AC or P<ACP < ACP<AC
AR=ACAR = ACAR=AC (break-even point)
Normal profits only
Entry → supply increases → price falls → normal profit
MC curve above shut-down point
P<AVCP < AVCP<AVC or TR<TVCTR < TVCTR<TVC
Critical price below which firm ceases production
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