5 You are hired as a consultant to a monopolistically competitive firm. The firm reports the following
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5 You are hired as a consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost and average tota l cost. Can the firm possibly be maximising profit? If not, what should it do to increase profit? If the firm is maximising profit, is the market in a long-run equilibrium? If not, what will happen to restore long-run equilibrium?
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Related Book For 
Principles Of Microeconomics
ISBN: 125206
8th Edition
Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw
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