year. If in that year the firm sold 100000 units of its oulput at 5.50 par unit, it accoutiof Losses were \\( \\$ 500000 \\) and its economic losses were zero profits were zero and its economic losses were 250000 profits were \\( \\$ 500000 \\) and its economic profits were \\( \\$ 250000 \\) profits were S100000 and economic profits were zero profits were zero and its economic profits syere \\( \\$ 250000 \\) Harrison Products is selling 1 million shares of stock in an auction IPO. At the end of the bidding period they have received the bids shown below. Which of the following is closest to the price at which the shares will be offered? \\( \\$ 6.25 \\) \\( \\$ 6.60 \\) \\( \\$ 6.75 \\) \\( \\$ 7.00 \\) \\( \\$ 7.25 \\)