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Retailer loss-minimization output and price

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Assuming that Fashion retailer is running a loss, draw a diagram showing Fashion retailer's demand curve, marginal revenue curve, average-total-cost curve, and marginal-cost curve in the long-run equilibrium. Label Fashion retailer's loss-minimization output and price.

In the long-run equilibrium of the clothing industry, what happens to the economic profit of all existing firms; and the price?

Reference no: EM132414806

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