If the Market Price Is $50 Per Unit for a Good

Multiple Choice

If the market price is $50 per unit for a good produced in a perfectly competitive market and the firm's average total cost is $52,then the firm

A) incurs an economic loss of $2 per unit.
B) makes an economic profit of $2 per unit.
C) makes zero economic profit.
D) incurs a total economic loss of $52.
E) More information is needed to determine the firm's economic profit or loss per unit.