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Observe the graph to the right. Based on the information provided with respect to Price {MP*), Average Variable Cost (AVE), and Marginal Cost [MC], what

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Observe the graph to the right. Based on the information provided with respect to Price {MP*), Average Variable Cost (AVE), and Marginal Cost [MC], what assumption would you make if the firm was selling its product at the market price MP*? Identify each key point on the graph. PRICE [1* QUANTITY

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