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Use the graph below to explain the output, profit, and loss conditions for monopolistically competitive firms. Show your work where appropriate in reference to the

Use the graph below to explain the output, profit, and loss conditions for monopolistically competitive firms. Show your work where appropriate in reference to the Graph. (Use both two ATC)

Question 2: With examples, examine the barriers to business entry for imperfect competition firms

Firm Lan T-shirt monopolistic competitive firm Price MC ATC: 25 25 TC 15 DD 10 MR 10 20 30 40 50 60 70 80 90 Supply 20

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