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Please give sufficient explanation and analysis 1. Explain why demand & marginal revenue curves coincide (overlap). 2. What curve coincides with (equals) a firm's marginal-cost

Please give sufficient explanation and analysis

1. Explain why demand & marginal revenue curves coincide (overlap).

2. What curve coincides with (equals) a firm's marginal-cost curve that's lies just above the firm's average-variable cost curve? Explain why they coincide.

3. In the long-run, what does the price equal? Be very specific. Explain why.

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