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
◦ incurs an economic loss of $2 per unit.
◦ makes an economic profit of $2 per unit.
◦ makes zero economic profit.
◦ incurs a total economic loss of $52.
◦ More information is needed to determine the firm's economic profit or loss per unit.