Jerome, the florist, sold 500 bridesmaid's bouquets in June. He estimates his costs that month were ATC = $10, AVC = $6, and MC = $9. If he sold each bouquet at the constant market price of $9, Jerome:
A. made an economic profit of $500.
B. made a loss of $500.
C. should have shut down in June.
D. made a loss of $1,500.
Answer: B
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