Does the following diagram illustrate a monopolistically competitive firm in a long-run equilibrium? If yes, explain why. If no, explain why not and redraw the diagram so that it is a long-run equilibrium. (Extra Credit: What forces move a monopolistically competitive industry to equilibrium?) 
Definitions:
Intersection
The point at which two or more lines, paths, or roads meet or cross each other.
Science
The systematic study of the structure and behavior of the physical and natural world through observation and experiment.
Gibbons v. Ogden
A landmark 1824 Supreme Court case that held the power to regulate interstate commerce was granted to Congress by the Commerce Clause of the U.S. Constitution.
Commerce
Trade among the several states or between any foreign country and any state or territory.
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