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Posted: **Thu Apr 28, 2022 11:37 am**

: 1 Consider The Long Run Equilibrium Of A Monopolistically Competitive Industry On A Diagram Similar To Figure 12 1 Sho 1 (23.08 KiB) Viewed 38 times

1 Consider the long-run equilibrium of a monopolistically competitive industry. On a diagram similar to Figure 12.1, show what will happen to output, price and profits in the short run and long run if there is a fall in demand.