The figure given below shows the revenue and cost curves of a monopolistically competitive firm. Figure 25.3 
In the figure,
D: Demand curve
MR: Marginal revenue curve
MC: Marginal cost curve
ATC: Average total cost curve
Refer to Figure 25.3.A perfectly competitive outcome would exist at a price of _____ and an output level of _____.
Definitions:
Relationships
Connections or associations between individuals or entities based on social, emotional, or professional interactions.
Circumstantial Groups
Groups formed due to external situations or conditions rather than shared interests or goals.
Bystanders
Individuals who are present at an event or incident but do not take an active role in its outcome.
Noninterdependence
A situation or relationship where the actions, decisions, or states of one entity do not significantly affect another.
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