In the market for paper, the demand for paper decreases. The top table shows the new market demand schedule for paper. Price Quantity demanded The market is perfectly competitive and each firm has the costs shown in the bottom table. There are 1,000 firms in the market. (dollars per box) (thousands of boxes per week) 2 95 500 What is the market price and the firm's economic profit or loss in the short run? 4.13 450 5 30 400 6 48 350 7.65 300 8 83 250 The market price is a box, and each firm 10 00 200 Quantity Average X A. $10.00; makes normal profit Marginal cost Average (boxes per (dollars per variable cost total cost B. $7.65, incurs an economic loss of $834 a week week) additional box) (dollars per box) 200 6.40 7 80 12 80 O C. $8.83, incurs an economic loss of $542 20 a week 250 7.00 7 00 11 00 O D. $8.40; incurs an economic loss of $581 300 7 65 7 10 10.43 350 8 40 7 20 10 06 400 10 00 7.50 10 00 450 12 40 8 00 chat 10 22 500 20 70 900 11.00