Question: Suppose qMC = 500, pMC = $20, and ATC = $20 at 500 units. Is the profit-maximizing firm in monopolistic competition making a profit or

Suppose qMC = 500, pMC = $20, and ATC = $20 at 500 units. Is the profit-maximizing firm in monopolistic competition making a profit or loss, and by how much?

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