Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a perfectly competitive market at $10 per unit. Its fixed costs are $100 and its average variable cost is $3 at 20 units of output. On the basis of this information we can say that the corporation: Multiple Choice O should close down in the short run X is maximizing its profits O is realizing an economic loss of $60 O is realizing an economic profit of $40 O is realizing an economic profit of $60