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1) The following graphs represent the cost curves of a single producer of wheat and the shortterm supply and demand in the market for wheat.

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1) The following graphs represent the cost curves of a single producer of wheat and the shortterm supply and demand in the market for wheat. Individual Firm Market P MC P r ATE Fe [1 A] Plot on the graph the equilibrium quantity:r in the market and the quantity:r produced by an individual rm. B] Plot on the graph the profit of a single firm. Does it have prot or losses? C] Is this market in its longterm equilibrium? Why

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