ulip growing is a perfectly competitive industry, and all tulip growers have the same cost curves. The market price of tulips is €25 a bunch, and each grower maximizes profit by producing 2,000 bunches a week. The average total cost of producing tulips is €20 a bunch, and the average variable cost is €15 a bunch. Minimum average variable cost is €12 a bunch.   What is the economic profit (loss) that each grower is making in the short run?

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