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Can you also please give brief explanation how you were able to find the answer thank you following quest Price ($) MC m ATC -

Can you also please give brief explanation how you were able to find the answer thank you

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following quest Price ($) MC m ATC - MR3 AVC P2 MR2 a . MR ac ad Quantity a. If firm's demand curve is MR, what is the firm's output level? b. What is the amount of profit or loss? c. Suppose the demand curve is MR,, what is output level? d. Identify the profit or loss incurred by indicating the area, e.g. rectangle OPIAq. e. In the short run, should this firm continue to produce? Explain. f. If the firm's demand curve is MR,, what is the firm's output level? g. Identify the area that represents the total revenue. h. Identify the area that represents the total cost of producing this output level. i. Identify the area that represents the firm's profit/loss. j. Identify the firm's short-run supply curve. k. If the cost curves do not change, what is the long run equilibrium price? 1. If the cost curves do not change, what is the long run the equilibrium quantity? 149

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