Asked by Chris

What is profit maximization condition for a firm? Explain why this condition must hold. Present a logical explanation and a graphical one. What is a "breakeven" point? Will a breakeven point always be present for a firm? Could there be more than one breakeven point? When?
Answered by economyst
take a shot, what do you think.

hints: Max profit occurs when MC=MR,
break-even occurs when TC=TR.