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Please help with the following picture question. Thank you! Price and cost Nolan per unit! 1} Figure 14.2.2 (above) describes a firm in monopolistic competition.

Please help with the following picture question. Thank you!

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Price and cost Nolan per unit! 1} Figure 14.2.2 (above) describes a firm in monopolistic competition. a] What price will this firm charge in order to maximize economic profit? (3 ma rks} b} What quantity of output will the firm produce in order to maximize economic profit? (3 marks} c) How will you describe the firm's situation as depicted in the figure? (4 marks)

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