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Consider Figure 5 below showing a firm's marginal cost (MC), average cost (AC), and marginal revenue (MR). Figure 5 Which of the following statements

Consider Figure 5 below showing a firm's marginal cost (MC), average cost (AC), and marginal revenue (MR). Figure 5 Which of the following statements is true? Oa. The firm is a price-taker. O b. The firm has market power.

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