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\fThe mobile phone industry is monopolistically competitive, and is described by Diagram A and Diagram B above. Samsung pursued a successful differentiation strategy and, as a result, is making a positive economic prot in the short run. PART A: Which diagram [Diagram A or Diagram B) represents Samsung's situation in the short run and long run, respectively? [1 mark] Use the labels (letters) to describe the curves. areas. and equilibrium points to illustrate your answer in parts B D. PART B: Referring to the shortrun diagram you selected in part a, identify Samsung's shortrun profit maximising output and explain how Samsung decided to produce this output. [6 marks] PART C: What is the price of each mobile phone? How much profit is Samsung making in the short run? Explain. [5 marks] PART D: Identify the area that represents consumer surplus. [2 marks] PART E: Explain how the other firms producing mobile phones would react to Samsung's short-run positive economic profit. What would be the longrun impact on Samsung's output, price and prot? Illustrate your answer with the longrun diagram you identified in part A. [10 marks] PART F: In the long run, Samsung is inefficient and has excess capacity. Identify the inefficiency and excess capacity on the longrun diagram and explain why they occur. [6 marks]