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2. a Price and cost (dollars per pizza) N 20 co 4 0 20 40 MR MC 60 ATC D 80 100 Quantity (pizzas

2. a Price and cost (dollars per pizza) N 20 co 4 0 20 40 MR MC 60 ATC D 80 100 Quantity (pizzas per day) The above figure shows Antonia's sandwich shop which is a monopolistic competitive firm. Answer and explain your answers to the following questions. a) How many sandwiches will Antonia's sandwich shop produce? b) What price will Antonia's sandwich shop produce? c) What is Antonia's sandwich shop total cost? d) What is Antonia's sandwich shop total revenue? e) What is Antonia's sandwich shop economic profit or loss? f) Is this a long-run equilibrium? Why or why not?

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