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The dry cleaning industry is in monopolistic competition.
In the short? run, the? profit-maximizing price is? $10 per item and the average total cost is? $6 per item. In the long? run, the? profit-maximizing price is? $8 per item.
In the long? run, what is the economic profit of a firm in the dry cleaning? industry?
In the long? run, the economic profit of a firm in the dry cleaning industry is ?$ (answer)
This document contains various important questions and their appropriate answers in the subject field of Economics.
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