Figure 16-8 The Figure Is Drawn for a Monopolistically-Competitive Firm

question 112

Multiple Choice

Figure 16-8
The figure is drawn for a monopolistically-competitive firm.

-Refer to Figure 16-8.As the figure is drawn,the firm is in

• A) a short-run equilibrium but it is not in a long-run equilibrium.
• B) a long-run equilibrium but it is not in a short-run equilibrium.
• C) a short-run equilibrium as well as a long-run equilibrium.
• D) neither a short-run equilibrium nor a long-run equilibrium.

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