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1) A pie shop in a monopolistically competitive market has a demand curve for their pies given by P = 35 - Q. The variable

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1) A pie shop in a monopolistically competitive market has a demand curve for their pies given by P = 35 - Q. The variable costs of producing a pie are given by the equation VC = 5Q and so the marginal costs are constant at MC = $5. a) What is the pie shop's profit-maximizing output and price

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