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Based on the facts presented,what is the status of Julie's gang?
Economic Profit
The difference between total revenue and the total costs of inputs, including both explicit and implicit costs.
Normal Profit
The minimum profit necessary for a company to remain competitive in the market, essentially covering its opportunity costs.
Competitive Firm
A company that operates in a market where there are many buyers and sellers, and no single entity can control the market price of goods or services.
Lowest Price
The minimum price at which a product or service is offered in the market, typically influenced by competition and cost structures.
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