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:
Business
An organization or enterprising entity engaged in commercial, industrial, or professional activities with the aim of generating profits.
Umbrella Liability
A package of several kinds of insurance.
Liability Insurance
A type of insurance that provides protection against claims resulting from injuries and damage to people or property.
Economical Premium
A cost-effective payment or fee, usually for insurance, that provides value or savings over time.
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