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Making a normal profit or an economic profit

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Reference no: EM132166614

Firm A charges $20 for each of its units of X it produces. Firm A's Average Total Cost (ATC) is $7. Firm A produced and sold 380 units of X in year 1. Calculate firm A's Total Revenue, Total Cost, and its profit for year 1. Is firm A making a Normal profit or an Economic profit?

Reference no: EM132166614

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