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- Competitive Firm - Short Run Illustrate to the right, a graph showing a PRICE company being profitable in a competitive market in the short

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- Competitive Firm - Short Run Illustrate to the right, a graph showing a PRICE company being profitable in a competitive market in the short run selling its product at Market Price (MP*) based on its Average Variable Cost [AVG] and Average Total Cost (ATE) and Marginal Cost {MC}. Identify each keg:r point on the graph. QUANTITY

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