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Suppose ABC Corp. is a firm producing newsprint in a perfectly competitive industry. We have the following information about the firm's production: - output (Q)

Suppose ABC Corp. is a firm producing newsprint in a perfectly competitive industry. We have the following information about the firm's production:

- output (Q) = 1500 tonnes per month

- average total cost (ATC) = $627 per tonne

- average variable cost (AVC) = $614 per tonne

- marginal revenue (MR) = $620 per tonne

- marginal cost (MC) = $620 per tonne

At the current level of output, this firm is ________ profit and is earning economic profit of ________ per month.

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