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BestIon 50 This figure depicts a situation in a monopolistically competitive market. 100 MC ATC PRICE 68 8 68 8 8 8 8 Demand 20

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BestIon 50 This figure depicts a situation in a monopolistically competitive market. 100 MC ATC PRICE 68 8 68 8 8 8 8 Demand 20 30 40 50 60 70 80 90 100 QUANTITY Assuming the firm is maximizing profit, the firm is earning positive economic profit in the long-run equilibrium. the firm is breaking even the firm is earning negative economic profit in the short-run. the firm is earning a positive economic profit in the short-run

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