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100 90 30 70 PRICE 50 40 30 20 10 MR Demand 10 20 30 40 50 60 70 80 90 100 QUANTITY Refer to

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100 90 30 70 PRICE 50 40 30 20 10 MR Demand 10 20 30 40 50 60 70 80 90 100 QUANTITY Refer to the figure above. If this market is controlled by a single-price monopoly, then the outcome will be: O a. Q = 30 and P = 30. O b. Q = 45 and P = 45 O c. Q = 30 and P = 60. O d. Q = 60 and P = 30.The figure shows the cost curves of a competitive firm: Price D MC ATC B L Flaxtity Refer to the figure above. In the long run, the competitive firm will exit the industry for any price between O a. points A and B. O b. points B and C. O c. points C and D. O d. none of the above

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