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Consider the graph below. Suppose qMC = 400, PMC = $10, and ATC = $12 at 400 units. Is the profit- maximizing firm in

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Consider the graph below. Suppose qMC = 400, PMC = $10, and ATC = $12 at 400 units. Is the profit- maximizing firm in monopolistic competition making a profit or loss, and by how much? Price MC ATC ATC MR = MC O -$4,800 loss O $4,000 profit $800 profit -$800 loss 0 MR Firm Firm Demand = AR Quantity Output

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