Suppose a monopolistically competitive industry has 8 firms with identical costs.
(A)Given the data in the table below,calculate the long-run price and quantity produced by the typical firm. 
(B)Calculate the price-cost margin.Based on this calculation,what is the approximate price elasticity of demand?
(C)What would be the total level of production at each firm in the long run?
(D)Would this industry be more efficient if it were competitive?
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