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Firms with costs C = q^2 + 36 face demand P = 24 nq and behave under the rules of Monopolistic Competition.

Firms with costs C = q^2 + 36 face demand P = 24 − nq and behave under the rules of Monopolistic
Competition. Compute and illustrate the prices and quantities that occur in the short run, with one
monopolist, and in the long run, where entry has occurred. Illustrate, calculate and explain how the
efficiency loss is affected by this entry.

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