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QUESTION 4 a Is a monopolistically competitive firm officient? Explain your answer (4 points) Suppose that a monopolisticaly competitive restaurant is currently serving 230 meals per day (output whore MR-MC). At that output level, ATC per meal is $ 10 and consumers are willing to pay $12 per meal. i What is the size of the firm's profit or loss? (2 points) it Will there be entry or exit of firms in the long run? Explain your answer. (2 points) Path: p Words:0
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