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Plz give exact answer The following graph shows the cost and revenue curves facing a firm that is operating in a monopolistically competitive market a.

Plz give exact answer

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The following graph shows the cost and revenue curves facing a firm that is operating in a monopolistically competitive market a. What price and output will this firm charge? What economic profit will this firm receive? b. Are the short-run profits of this firm sustainable in the long-run? Clearly explain why long-run equilibrium may differ from MC the short-run equilibrium for a Price/Cost per Unit - AC monopolistically competitive firm. Identify which curves will be affected in the long-run. C. Lastly compare the long-run equilibrium of a monopolistically competitive firm with that of a perfectly competitive firm. What D=AR differences do you see? [Draw a diagram to O illustrate the situation of the firm that is 0 10 20 30 40 50, 60 70 80 90 100 in long run equilibrium] MR

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