Illustrate what is loss minimization output level

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Reference no: EM1355846

the global investment group, llc operates in a perfectly competitive industry with the following cost and revenue data:

1. Average Total Cost = $250, Quantity sold =7000 units; Average Revenue = $200; Marginal Revenue =$200; Marginal cost = $200:

a. Illustrate what is the loss minimization 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?

Reference no: EM1355846

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