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Question: a what are firm profits show calculation b what long...

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Price 50 45 ATC 40 35 30 25 D 20 15 10 5 MR. 10 20 30 40 50 60 70 80 uaxtity

a. What are firm profits? Show calculation. b. What long run adjustment will occur in this monopolistically competitive industry? Discuss firm Demand, Price, Quantity, and Profits. Explain.

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