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it down price and quar X P8 10.1 Monopolistic Compe X ChatGPT X ch06lecture.ppt x 1 (1) Wha toronto.ca/courses/5392/quizzes/45786/take The figure below shows the situation
it down price and quar X P8 10.1 Monopolistic Compe X ChatGPT X ch06lecture.ppt x 1 (1) Wha toronto.ca/courses/5392/quizzes/45786/take The figure below shows the situation of a producer of running shoes. 100 80 Price and cost (dollars per pair) 60 40 X 20 MR 50 100 150 250 Quantity (pairs of running shoes per week) a) What quantity does this firm produce, what price does it charge, and what is its economic profit? b) What will be the long run situation for this firm in terms of cost, price and economic profit? (Provide a short-written explanation). Edit View Insert Format Tools Table Q Search * LDOC-6 EA ASUS VivoBook
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