The diagram below shows the equilibrium position of Balloon manufacturers who are operating under pur competition because one company does not have an edge over another. 99 90 77 D= MR=AR 50 45 MC ATC AVC 10 12 20 Exhibit 21-1 Q The maximum economic profit (or minimum economic loss) for the firm in the diagram above would be a a. profit of R540 b. loss of R480 c. profit of R60 d. loss of R490

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