The diagram below shows the equilibrium position of Balloon manufacturers who are operating under pure competition because one company does not have an edge over another. MC 28 84 ATC AVC D= MR = AR 50 45 10 12 20 Q Exhibit 21-1 29 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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