As we analyze exit and entry,
p90x cheap price, it is useful to be able to analyze the firm's profit in
more detail. Recall that profit equals total revenue (TR) minus total cost (TC):
Profit TR TC.
Figure 14-4
THE COMPETITIVE FIRM'S LONG-
Costs
RUN SUPPLY CURVE. In the long
run,
chd flat iron on sale, the competitive firm's
MC
supply curve is its marginal-cost
Firm's long-run