As long as it does not shut down, a profit-maximizing perfectly competitive firm will

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A profit-maximizing perfectly competitive firm will produce where marginal revenue equals marginal cost. This is because in a perfectly competitive market, the firm is a price taker and must accept the market price for its output, so it can only control the quantity it produces. At the profit-maximizing quantity, marginal revenue equals marginal cost, and any additional production would result in a decrease in profit. Producing where price equals average cost would result in zero economic profit, and setting the price equal to marginal revenue might not allow the firm to cover its costs.

As Long as It Does Not Shut Down, a Profit-Maximizing