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Sagot :
Based on the information given, the loss for the perfectly competitive market will be $210.
From the information given, the average total cost of 70 units is $8. Therefore, the total cost will be:
= 70 × $8 = $560.
The revenue will be:
= Price × Quantity
= $5 × $70
= $350
Therefore, the loss will be;
= Total revenue - Total cost
= $350 - $560
= -$210
Therefore, the loss is $210.
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