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Consider the market structureshown in the attached figure. (a) Identify the market structure (b) Determine the profit-maximizing level of output and price (c) Determine the

Consider the market structureshown in the attached figure. (a) Identify the market structure (b) Determine the profit-maximizing level of output and price (c) Determine the economic profit associated with your answer to part(b) (d) Briefly comment on the efficiency of the market structure. (e) Is price discrimination possible under this market structure? Briefly explain
50 MC 40 ATC Price and costs (dollars per unit) 30 20 10 MR: D 10 20 30 40 50 60 Quantity (units per day)

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