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The market for coffee near Sarbucks stores is perfectly competitive (all firms are price takers). Graph the long-run market equilibrium for coffee and for Sarbucks

The market for coffee near Sarbucks stores is perfectly competitive (all firms are price takers). Graph the long-run market equilibrium for coffee and for Sarbucks as an individual firm in this market in spaces below. Make sure to identify the market S&D, firm S&D, and firm ATC and AVC curves. How much profit is the firm making? Why is this profit level synonymous with being in a long-run equilibrium?

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