Figure 16-3 This Figure Depicts a Situation in a Monopolistically Competitive Market

question 624

Multiple Choice

Figure 16-3
This figure depicts a situation in a monopolistically competitive market.
-Refer to Figure 16-3. This firm is operating

• A)in the short run and earning a positive economic profit.
• B)in the short run and breaking even.
• C)in the long run and earning a positive economic profit.
• D)in the long run and incurring and economic loss.