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(ii) Differentiate between the terms revenue and profit. Assume that a firm sells 20 units of a good at a price of $5 per unit.

(ii) Differentiate between the terms "revenue" and "profit." Assume that a firm sells 20 units of a good at a price of $5 per unit. If the average total cost of the firm is $3 per unit, calculate the firm's profit.

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