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Task 2 (Approx. 20 minutes) Consider the following diagrams which show a monopolistically competitive firm in short run and long run equilibrium: SHORT RUN EQUILIBRIUM

Task 2 (Approx. 20 minutes) Consider the following diagrams which show a monopolistically competitive firm in short run and long run equilibrium: SHORT RUN EQUILIBRIUM LONG RUN EQUILIBRIUM P P MC ATC MC ATC D D Q MR Q MR

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