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SQ-1: A firm in a perfectly competitive industry is producing and selling 50 units, which is its profit-maximizing output. Market price of the product is

SQ-1: A firm in a perfectly competitive industry is producing and selling 50 units, which is its profit-maximizing output. Market price of the product is BDT 2,000 per piece. Its Total Fixed Costs (TFC) is BDT 25,000 and Average Variable Cost (AVC) are BDT 800 per piece. Calculate the firm's economic profit.

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