What should it do to increase profit

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You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal const, and average total cost. Can the firm possible be maximizing profit? If not, what should it do to increase profit? If the firm is profit maximizing, is the firm in a long-run equilibrium? If not, what will happen to restore long-run equilibrium?

Reference no: EM13149457

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