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The figure given below shows the revenue and cost curves of a monopolistically competitive firm. Figure 12.4 MC ATC Price A MR Demand FJL N

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The figure given below shows the revenue and cost curves of a monopolistically competitive firm. Figure 12.4 MC ATC Price A MR Demand FJL N Quantity MR: Marginal revenue curve ATC: Average total cost curve MC: Marginal cost curve Consider the monopolistically competitive firm described in Figure 12.4. The profit-maximizing output level and price are and , respectively. Question 5 options: O N; P O J; B O F; A F; E L; D

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