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.Jo sells beautiful flower bouquets at the Sunday markets. Assume the market for ower bouquets is perfectly competitive. .lo sells her bouquets at the market price of 550. At the profitmaximising level of 5? bouquets. Jo's average total cost is $41 per bouquet. The minimum average variable cost is 538 per bouquet. Answer the following questions: a. Jo's economic profit or loss is ' {use a negative value if a loss]. Answer in dollars. b. State whether the following statement is true or false. "At the profit maximising quantity Jo is making an economic profit of $9 per bouquet. " Type T for true or F for false I. c. State whether the following statement is true or false: "Jo should shut clown if the market price is $40 per bouquet." Type T for true, or F for false . l