Assume the xyz corporation is producing 20 units of output. it is selling this output in a purely competitive market at $10 per unit. its total fixed costs are $100 and its average variable cost is $3 at 20 units of output. what is the economic profit of this corporation?

$40

Explanation:

Economic profit is determined by the difference between the revenue from sales at the market value and the variable and fixed costs to produce the current output of 20 units.

The economic profit of XYZ corporation is $40.

answer; ( prices are sticky);

answer; /// i believe the correct answer is first in, first out(fifo); //