AP Microeconomics FRQ on perfect competition | AP(R) Microeconomics | Khan Academy

Keep going! Check out the next lesson and practice what you’re learning:
www.khanacadem...
Walk through the solution to a free response question (FRQ) like the ones you may see on an AP Microeconomics exam. Topics include why price equals marginal revenue (P=MR) for a perfectly competitive firm, how to draw side-by-side market and firm graphs, and how to find several points of interest in the firm graph.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
www.youtube.co...

[@dontknow1684]

in one part you say no economic profit, but you use economic profit in the second part. howww?????

[@danielchen5628]

I think he said that since it's perfect competition, the firm is forced to take the market price. The question says there is a positive economic profit meaning that the average total cost must be below the market/firm price. Hope that helps!

[@faanzeonlam3219]

@Cristiano Stefan cringe