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The graph below represents a market with each firm producing at MC = 120 and P = 120. Firms are assumed to incur zero fixed

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The graph below represents a market with each firm producing at MC = 120 and P = 120. Firms are assumed to incur zero fixed cost of production. A process innovation is available that will reduce the marginal cost of production of the firm acquiring the innovation to 80 P 200 140- 120- 80 - -. 40 60 80 100 120 160 200 Q What is the relative size of the process innovation? O 0.6 O 0.3 O 0.4 O 0.5

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