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Homework (Ch 16) 300 Profit or Loss Lu 200 150 ATC MR Deman 050 100 150 200 250300 350 400 450 500 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is making pr shops in the industry relative to the long-run equilibrium. Now consider the long run in which bike manufacturers are free to enter and exit the market.
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