If for a perfectly competitive firm, price is Rs. 60, output is 300 units, average variable costs are Rs. 18, and average total costs are Rs. 36. The firm's profits are equal to ______.

Profit (π) can be calculated using the formula:
π=(Price−Average Total Cost)×Output
Given data:

Price (P)=Rs. 60

Output (Q)=300 units

Average Total Cost (ATC)=Rs. 36

Substituting the values into the formula:

π=(60−36)×300
π=24×300=Rs. 7200