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4.1 Define the following cost curves according to the theory of the firm. Provide examples wherever applicable: 4.1.1 Total fixed cost curve (4) 4.1.2 Total variable cost curve (4) 4.1.3 Long-run average cost curve (4) 4.2 Describe the demand curve of a perfectly competitive firm. (4) 4.3 Explain the nature of the goods produced by a monopolistically competitive firm.
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