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Difference between the short-run and the long run

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A furniture company is operating in a monopolistically competitive market. It produces and sells 180 tables for $150 each. It has average fixed costs of $40 and average variable costs of $65 at this production level. a Calculate the company's total revenue, total fixed cost, total variable cost, total cost and total profit. b. Is this the short run or long run for the furniture company? Explain your answer and also highlight the difference between the short-run and the long run

Reference no: EM133065889

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