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Solve clearly _. Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by: Suppose that a typical firm in
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Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by: 60 -p, where q is quantity sold per week.e The firm's marginal cost curve is given by: MC = 60. 1. Draw the firm's demand, marginal revenue, and marginal cost curves. Does this solution represent a long-run equilibrium? Why or why not? (1 point)e
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