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1. The gure below shows rm-level demand, marginal revenue and costs, as well as this rm's prot maximizing decision in equilibrium: 3 0 Q L

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1. The gure below shows rm-level demand, marginal revenue and costs, as well as this rm's prot maximizing decision in equilibrium: 3 0 Q L Output A. (5 points) What market structure is this rm likely operating in? Is this equilibrium in the SR or the LR? Explain. B. (5 points) Is this equilibrium efcient? Why or why not

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