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The graph below shows price and average cost for a perfectly competitive firm. The figure shows marginal revenue when price is equal to cost. There
The graph below shows price and average cost for a perfectly competitive firm. The figure shows marginal revenue when price is equal to cost. There is 0 profit, shown by point E, where marginal cost is equal to marginal revenue. The figure shows the price and average cost at the raspberry farm. The x-axis represents quantity in packs of raspberries ranging from 0 to 100. The y-axis represents marginal cost and marginal revenue in dollars from 0 to 16. The figure shows marginal revenue when price is equal to cost. There is 0 profit, shown by point E, where marginal cost is equal to marginal revenue. Which of the following is true about this firm's current economic profit? Select the correct answer below: economic profit is negative economic profit is positive economic profit is zero economic profit is unknown
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