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21. Chapter ma2pe09r, Section .16, Problem 039 (ID: 039.16.MANK09) Figure 16-3 1200 1100 ATC 1000 900 800 700 PRICE 500 400 Demand 300 200 100

21. Chapter ma2pe09r, Section .16, Problem 039 (ID: 039.16.MANK09) Figure 16-3 1200 1100 "ATC 1000 900 800 700 PRICE 500 400 Demand 300 200 100 MR 5 10 15 20 25 30 35 40 45 50 55 60 QUANTITY Refer to Figure 16-3. The firm in this figure is monopolistically competitive and maximizing profit. This firm Oa. is incurring a short-run loss. Ob. The answer cannot be determined from the information given. Oc. is operating in the long run. Od. is earning a short-run economic profit

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