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Consider the diagram in Chapter 25-2 (page 575 in text) depicting the demand and cost conditions...

Consider the diagram in Chapter 25-2 (page 575 in text) depicting the demand and cost conditions faced by a monopolistically competitive firm.
a. What are the total revenues, total costs, and economic profits experienced by this firm?
b. Is this firm more likely in short- or long-run equilibrium? Explain.
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