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The figure below depicts the cost structure of a firm in a competitive market. Use the figure to answer the following questions. Figure 14-6 Price

The figure below depicts the cost structure of a firm in a competitive market. Use the figure to answer the following questions. Figure 14-6 Price MC ATC AVC P P3 Quantity Refer to Figure 14-6. When market price is P 4, a profit-maximizing firm faces a loss positive profit normal profit O We can't tell because we don't know fixed costs

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