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A. Draw a diagram to show the long-run equilibrium in a monopolistically competitive market and explain what you draw. B. How does this equilibrium differ

A. Draw a diagram to show the long-run equilibrium in a monopolistically competitive market and explain what you draw.

B. How does this equilibrium differ from that in a perfectly competitive market? Draw a diagram of the long-run equilibrium of a firm in a perfectly competitive market to compare with your equilibrium in b) above

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