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Article Summary. Assume that the increase in net farm income in 2017 was a result of average total cost falling from being equal to the
Article Summary. Assume that the increase in net farm income in 2017 was a result of average total cost falling from being equal to the market price to slightly below the market price at the output level where marginal cost equals marginal revenue. This indicates that the market went from suffering a loss to breaking even. earning a profit to suffering a loss. suffering a loss to earning a profit. breaking even to earning a profit
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