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Demonstrate graphically and explain verbally

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Demonstrate graphically and explain verbally the case of a monopolistically competitive firm earning a positive economic profit. Is this firm in a short run or a long run equilibrium? In the short run, how does this case differ from the monopoly market outcome?

Demonstrate graphically and explain verbally the long run equilibrium for a monopolistically competitive firm. How does this differ from the long run equilibrium of a monopoly firm?

Reference no: EM132343939

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