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QUESTION 8 Costs and Revenue Cost curves for local firm $12 MC 10 ATC AVC 2 4 6 8 10 12 Quantity Refer to the

QUESTION 8 Costs and Revenue Cost curves for local firm $12 MC 10 ATC AVC 2 4 6 8 10 12 Quantity Refer to the graph above. At a market price of $7, this firm is earning S economic profit. $24 $56

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