How marginal and average cost for monopolistical is related

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Reference no: EM131443843

Question: How is price related to marginal cost and average total cost for monopolistically competitive firms in the following situations?

- a short-run equilibrium where it is earning positive economic profits

- a short-run equilibrium where it is earning economic losses

- a short-run equilibrium where it is earning zero economic profits

- a long-run equilibrium

Reference no: EM131443843

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