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Use the number given for Q, TC, and P in the table to find various answers. You should do these questions on a scrap paper
Use the number given for Q, TC, and P in the table to find various answers. You should do these questions on a scrap paper and fill in the blanks later, as some answers depend on one another. Q TC P 0 2 6 1 5.25 5.75 2 7.5 5.5 3 9.6 5.25 4 12.1 5 5 15.8 4.75 6 20 4.5 7 24.75 4 Suppose that after long-run adjustments, the monopolistically competitive firm produces Q*=4 units. The long-run economic profit = , one decimal place
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