Use the Following to Answer Question

question 213

Multiple Choice

Use the following to answer question:
Figure: The Market for Gas Stations
-(Figure: The Market for Gas Stations) Use Figure: The Market for Gas Stations.This market is characterized by many firms,differentiated products,easy entry,and easy exit.In long-run equilibrium,the economic profit earned by the typical gas station will be:

• A)equal to the level shown in the figure.
• B)negative.
• C)zero.
• D)Not enough information is given to answer the question.