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Explain the Figure 68 and Figure 69 briefly. P Pricing and Output under Pure Competition INDUSTRY S -P C FIRM Profit ID MC Output in

Explain the Figure 68 and Figure 69 briefly.

P Pricing and Output under Pure Competition INDUSTRY S -P C FIRM Profit ID MC Output in Million Figure 68: Purely Competitive Model with Few Firms AC 151 D=MR Q Output in Hundred

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