Maggie is one firm of many in the market for toothpaste, which is in long-run equilibrium.   1,a.  Draw a diagram showing Maggie’s demand curve, marginal-revenue curve, average total cost curve, and marginal-cost curve. Label Sparkle’s profit-maximizing output and price.   b.   What is Maggie’s profit? Explain. c.  On your diagram, show the consumer surplus derived from the purchase of Maggie toothpaste. Also show the deadweight loss relative to the efficient level of output.

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