-Refer to Figure 9.5.This farmer would earn zero economic profit if price was

Name: -Refer to Figure 9.5.This farmer would earn zero economic profit if price was
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At a price of $10, the farmer would cover all costs, including both the variable and fixed costs, as well as the opportunity cost of capital and labor, leading to zero economic profit. This is typically where the average total cost curve intersects with the price level.