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Consider a firm operating with the following: P = $ 1 0 ; MR = $ 1 0 ; MC = $ 1 0 ;
Consider a firm operating with the following: P $; MR $; MC $; ATC $ This firm is:
perfectly competitive in longrun equilibrium
a monopolist for a product with a relatively inelastic demand
making an economic profit of $
going to go out of business in the long run
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