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Hungry Jacks is one of the fast food's firms in Sydney with the following short run cost curves. (a)Use 2 characteristics to explain the market

Hungry Jacks is one of the fast food's firms in Sydney with the following short run cost curves.

(a)Use 2 characteristics to explain the market structure for Hungry Jacks company

(4 marks)

ANSWER:

(b)What price does Hungry Jacks charge and what quantity will the firm produce to maximize profit? (2 marks)

ANSWER:

(c)Calculate this firm's profit or loss. (4 marks)

ANSWER:

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