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Posted on Sep 27, 2024

When market price is at MC 2 ,a firm producing output level Q 1 would experience a.profits equal to (MC 2 - MC 1 )

When market price is at MC₂,a firm producing output level Q₁ would experience

a.profits equal to (MC₂ - MC₁) Q₁.

b. zero profits.

c.losses equal to (MC₂- MC₁)

d.losses because P < ATC.

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