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3. Suppose firms operating in the monopolistically competitive snack food market adopt a new food processing technology that decreases average total cost at the firms,

3. Suppose firms operating in the monopolistically competitive snack food market adopt a new food processing technology that decreases average total cost at the firms, while marginal cost remains unchanged. a. Draw a market graph to show what will happen to the number of firms operating in the market. b. What happened to market quantity? c. What happened to market price? d. Draw a firm graph to show what will happen to the price and quantity produced at a representative firm

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