The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry. 
FIGURE 11-4
-Refer to Figure 11-4.Assuming this firm is producing its profit-maximizing level of output,what are the profits or losses being earned by this firm?
Definitions:
Assets Test
A financial measure used to determine eligibility for certain government benefits based on the value of one's assets.
Profit Test
A determination to assess the viability and profitability of a project or investment by comparing costs against potential benefits.
Reportable Segments
Parts of a business that have separate financial information available, which can be evaluated regularly by the company's chief operating decision-maker in deciding how to allocate resources and in assessing performance.
Profits
The financial gain remaining after subtracting all expenses, taxes, and costs from total revenue.
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