The market structure of the local pizza industry is best characterized by monopolistic competition.One Guy's Pizza is one of the producers in the local market.The demand for One Guy's Pizza is: 
The resulting marginal revenue curve is 
One Guy's cost function is: 
Determine One Guy's profit maximizing level of output and the price charged to customers.Is this a long-run equilibrium?
Definitions:
Modernization Theory
A theory that suggests societies progress through a series of stages toward stability, democracy, and prosperity, often through technology and industrialization.
Functionalist Theory
A sociological perspective that interprets each part of society in terms of how it contributes to the stability and functionality of the whole society.
Multinational Corporations
Large companies that operate and provide goods or services in multiple countries outside of their home country.
Modernization Theory
A theory that argues that the development of nations follows a linear trajectory from traditional to modern systems of social, economic, and political organization.
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