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8. For a firm in a monopolistically competitive market, which of the following accurately describes the relationship between the price, average total cost, and marginal

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8. For a firm in a monopolistically competitive market, which of the following accurately describes the relationship between the price, average total cost, and marginal cost in the short run given that the firm is making a negative profit? (a) ATC = P = MC (b) ATC > P = MC (c) ATC = P > MC (d) ATC > P > MC

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