At a price of $3.00 per pack, the raspberry farm produces 70 packs where P = MR = MC, and average cost at that quantity is also $3.00. What is the farm's profit?

1. Profit equals (price minus average cost) times quantity. 2. Here price and average cost are both exactly $3.00, so price minus average cost is $0. 3. Multiplying $0 by any quantity still gives $0 in profit. 4. This is the zero-profit case, where price equals average total cost exactly, not a loss or a large profit. _Source: OpenStax Principles of Microeconomics for AP Courses (CC BY 4.0), Ch 8 "Perfect Competition", section 8.2 | How Perfectly Competitive Firms Make Output Decisions_