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SOLVED: I. The graph on this page shows the demand, marginal revenue, and cost curves for a firm that produces and sells widgets. The vertical axis measures the price and the cost of a widget, and the horizontal axis measures the quantity of widgets produced and sold, in thousands per year. The firm is the only producer of widgets, and there are barriers that keep other firms from entering the market. Use the graph to determine the following:If the firm makes the choices given in part B, calcula
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