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Fig. 2 shows the long-run equilibrium of a firm in a hypothetical MPC market. The equilibrium price and output are Fig 2: Long-Run Equilibrium in

Fig. 2 shows the long-run equilibrium of a firm in a hypothetical MPC market. The equilibrium price and output are Fig 2: Long-Run Equilibrium in a Monopolistic Competition Market PRICE ($/GALLON) MC ATC P1 A D P3 B P2 C DEMAND MR Q3 O 01 QUANTITY

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