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In the following diagram that depicts the relevant curves for a firm with market power, label: a. the marginal revenue curve, b. the profit-maximizing price,

In the following diagram that depicts the relevant curves for a firm with market power, label:

a. the marginal revenue curve,

b. the profit-maximizing price,

c. the profit-maximizing quantity,

d. the profit, if any, and

e. the deadweight loss, if any.

Price Demand Marginal cost Average cost Quantity

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