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Suppose the market for stuffed elephant toy is a perfectly competitive market. The following graph shows the cost curves of a firm operating in this

Suppose the market for stuffed elephant toy is a perfectly competitive market. The following graph shows the cost curves of a firm operating in this market. If the market price is $3 and the firm chooses to produce at the profit-maximizing quantity, then the firm would have ________ of _______.a profit; $1,200,000an economic loss; $2,000,000an economic loss; $1,200,000a profit; $1,500,000a profit; $800,000an economic loss; $800,000a profit; $2,000,000a profit; $2,400,000an economic loss; $1,500,000an economic loss; $2,400,000

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