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2. The following is a graph of the cost curves for an individual firm MC ATC Price 2 AVC Price 1 Q1 Q2 A. At

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2. The following is a graph of the cost curves for an individual firm MC ATC Price 2 AVC Price 1 Q1 Q2 A. At price 1 does the firm produce q2, q1, or no goods? Why? B. Suppose the price rises to price2, does the firm make a profit or loss? Why? C. Will the long run equilibrium price be larger or smaller than price 2? Why

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