Refer to the Graph Shown

question 146

Multiple Choice

Refer to the graph shown. According to the graph, this monopolistically competitive industry is currently:

• A)not in long-run equilibrium, and we would expect more firms to enter this industry.
• B)not in long-run equilibrium, and we would expect some firms to exit this industry.
• C)in long-run equilibrium, and so the number of firms will remain unchanged.
• D)in short-run equilibrium with economic profit equal to zero.

---

Definitions:

Creative

Characterized by originality and expressiveness; having the ability or power to create through imagination.

Constructive Criticism

Feedback provided in a way that acknowledges both strengths and areas for improvement, intended to help the recipient grow.

Nonverbal Cues

Forms of communication without the use of spoken language, including gestures, facial expressions, body language, and tone of voice, that can convey messages or emotions.

Feedback

Information provided about reactions to a product, a person's performance of a task, etc., used as a basis for improvement.