Sleek sneakers co. is one of many firms in the market for shoes.

Sleek Sneakers Co. is one of many firms in the market for shoes. Assume that Sleek is currently earning short-run economic profits. The following graph shows the demand and marginal-revenue (MR) curves faced by and average-total-cost (ATC) curve. On the following graph, use the black point (plus symbol) to show the profit-maximizing output and price for a typical firm operating in a monopolistically competitive environment. Then use the green rectangle (triangle symbols) to show the area representing profit. Deman Profit Max Profit MR

Answer

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