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Illustrate how a monopolistic competition firm

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Q1) Using an appropriate diagram, demonstrate and illustrate how a monopolistic competition firm achieves equilibrium in the long run.

Q2) Why would a firm that incur losses choose to produce rather than shut down?

Q3) How does a firm in monopolistic competition decide how much to produce and at which price to offer its product for sale?

Q4) What is the difference between economic profit and producer surplus?

Reference no: EM132519265

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