A firm's total profit is generally at a maximum when total cost is at a minimum.

Name: A firm's total profit is generally at a maximum when total cost is at a minimum.
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A firm's total profit is maximized when the difference between total revenue and total cost is the greatest, not necessarily when total cost is at a minimum. Profit maximization typically occurs where marginal cost equals marginal revenue, not at the point of minimum total cost.

A Firm's Total Profit Is Generally at a Maximum When