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. made an economic profit of $1,500
d. made a loss of $1,500
e. should have shut down in June


B

Economics

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