Re: SIS 2013

Posted by Akshay Jain on May 12, 2014; 5:57pm
URL: http://discussion-forum.276.s1.nabble.com/SIS-2013-tp7589464p7589467.html

In perfect competition the price charged is the marginal cost of production and no economic profits...
so price ceiling is P=1
at this price total revenue is 100 and total cost is also 100
so 0 economic profits....