Use the following diagram to answer the following questions.
-Use the following diagram. The total net efficiency loss from government rent controls is given by area: 
Definitions:
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity supplied by producers.
Minimum Point
The lowest point on a curve, often referring to the least cost or output level in various economic or mathematical models.
ATC Curve
The line that graphically represents the average total costs of production at various levels of output.
Purely Competitive
A market structure characterized by many small firms producing identical products, where no single firm can influence the market price.
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