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10.(10 points) (1)draw graphs and analyze the difference in the long-run equilibrium between a perfectly competitive market and a monopolistic competitive market. (2)analyze the advantages

10.(10 points)

(1)draw graphs and analyze the difference in the long-run equilibrium between a perfectly competitive market and a monopolistic competitive market.

(2)analyze the advantages and disadvantages of a monopolistic competitive market, compared to a perfectly competitive market.

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