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A price taker in a perfectly competitive industry is currently selling 6000 units Per month a the market price of $8 per unit. Monthly total

A price taker in a perfectly competitive industry is currently selling 6000 units Per month a

the market price of $8 per unit. Monthly total variable costs are $50,000 and total fixed costs are $20.000. Marginal cost is $8 per unit and rising. Economic profit:

  1. are equal to zero
  2. are greater than zero
  3. are less than zero
  4. cannot determined

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