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Please review the diagram below for a firm that is a local monopoly selling scooters with custom designs. The owners of this company have conducted

Please review the diagram below for a firm that is a local monopoly selling scooters with custom designs. The owners of this company have conducted relevant research to forecast their demand, marginal revenue, marginal cost and average cost, which are shown in the diagram below. Answer the subsequent questions given your interpretation of the diagram to provide the owners with advice in relation to their conduct and competing in their market.

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Price MC AC 270 230 190 170 50 D = AR 210 230 270 300 Quantity MR

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