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Reference no: EM132482466

Suppose ABC Corp. is a firm producing newsprint in a perfectly competitive industry. We have the following information about the firm's production: 

  • output (Q) = 1500 tonnes per month 
  • average total cost (ATC) = $627 per tonne 
  • average variable cost (AVC) = $614 per tonne 
  • marginal revenue (MR) = $620 per tonne 
  • marginal cost (MC) = $620 per tonne 

At the current level of output, this firm is ________ profit and is earning economic profit of ________ per month.

Reference no: EM132482466

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