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The diagram at right shows the structure of cost and demand facing a monopolistically competitive firm in the short run. The profit - maximizing output
The diagram at right shows the structure of cost and demand facing a monopolistically competitive firm in the short run.
The profitmaximizing output level is units of output. Enter your response as an integer.
The profitmaximizing price is $Enter your response as an integer.
Total revenue is $Enter your response as an integer.
Total cost is $Enter your response as an integer.
Total profit or loss is $Enter your response as an integer and include a negattive sign where appropriate. In the long run, firms will
A enter, shifting the demand facing the remaining firms to the left until the firms earn an economic profit.
B exit, shifting the demand facing the remaining firms to the right until the firms earn an economic profit.
C exit, shifting the demand facing the remaining firms to the right until the firms earn a normal profit.
D enter, shifting the demand facing the remaining firms to the left until the firms earn a normal profit.
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