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Consider the following demand schedule and cost information in the short run for a monopolistically competitive firm. Quantity 0 1 2 3 4 5 6
Consider the following demand schedule and cost information in the short run for a monopolistically competitive firm.
Quantity 0 1 2 3 4 5 6 Price 10 9 8 7 6 5 4 Total cost 2 7 13 20 28 37 47
As the firm increases the output from 1 to 2 units, the marginal revenue is
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