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The revenue and cost data for a fast-food restaurant in a monopolistically competitive industry is shown in the figure. A graph shows demand curve, MR
The revenue and cost data for a fast-food restaurant in a monopolistically competitive industry is shown in the figure. A graph shows demand curve, MR curve, MC curve, and ATC curve with Quantity along the horizontal axis and Price, cost, marginal revenue along the vertical axis. The demand curve and the MR curve start at a common point on price and have negative slopes. The MC curve has a positive slope and intersects the MR curve at H on quantity, and the point is labeled as A. The MC curve intersects the demand curve at E on quantity, F on price, and the point is labeled as Q. The ATC curve has a negative slope that levels off toward the right, and it intersects the MC curve at point B. The ATC curve intersects the MR curve at F on price, and the point is labeled as M, and the demand curve at N on quantity, J on price, and the point is labeled as C. Point K is labeled on the demand curve at H on quantity, L on price. Point I is labeled on the ATC curve at H on quantity, J on price. The firm's profit per unit at the profit-maximizing output is equal to the difference between _____. I and H F and J L and F L and J
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