A perfectly competitive profit-maximizing firm producing under constant returns to scale will find that the total cost of employing all inputs will be exactly equal to the total revenue it receives when operating at equilibrium.

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In a perfectly competitive market, firms are price takers and cannot influence the market price of their output. Therefore, the firm will produce at the point where the marginal cost equals the market price. At the profit-maximizing output level, the firm's total revenue will equal the price multiplied by the quantity sold. Under constant returns to scale, the total cost of employing all inputs will be directly proportional to the level of output. As long as the market price is greater than or equal to the average cost of production, the firm will earn positive economic profit. At equilibrium, the firm's total revenue will equal its total cost, including both explicit and implicit costs.

A Perfectly Competitive Profit-Maximizing Firm Producing Under Constant Returns to Scale