A profit-maximising firm in a competitive market is able to sell its product for $9. At its current level of output, the firm's average total cost is $10. Its marginal cost curve crosses the marginal revenue curve at an output level of 10 units. What is the total loss of this firm?
A) more than $10
B) exactly $10
C) less than $10
D) none of the above is necessarily correct
Correct Answer:
Verified
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