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The graph that follows shows an individual firm in long-run equilibrium. In which market structure is this firm operating? Explain. Compare the long-run quantity and

The graph that follows shows an individual firm in long-run equilibrium. In which market structure is this firm operating? Explain. Compare the long-run quantity and price to those of a perfectly competitive firm. What accounts for the difference? Is the equilibrium price greater than, equal to, or less than marginal cost? Why or why not

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