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Figure 13.2.2 Refer to Figure 13.2.2, which shows a firm in short-run e...

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A graph plots price and cost (dollars per unit) versus Quantity (units per week). In the graph, the points plotted on the x-axis are Q sub 0, Q sub 1, Q sub 2, Q sub 3, and Q sub 4, and the points plotted on the y-axis are P sub 1, P sub 2, P sub 3, P sub 4, and P sub 4. The graph plots two slopes, two convex curves, and six closed points (Q sub 1, P sub 2), (Q sub 1, P sub 5), (Q sub 2, P sub 1), (Q sub 2, P sub 4), (Q sub 3, P sub 3), and (Q sub 4, P sub 2). The first slopes fall through the top left to (Q sub 4) is labeled M R. The second slope falls through the top left to mid-right is labeled D. The first curve rises through (Q sub 1, P sub 0.5) to (Q sub 1, P sub 1) to (Q sub 3, P sub 5) is labeled, M C and the second curve falls through (Q sub 0.5, P sub 3) to (Q sub 3, P sub 1.8) then rises through (Q sub 4, P sub 2)is labeled A T C. All values are estimated.

Figure 13.2.2

Refer to Figure 13.2.2, which shows a firm in short-run equilibrium in monopolistic competition. Which of the following events will occur in this market in the long run?
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