In the long run, a monopolistically competitive firm earns small economic profits

Economic growth is represented by an inward shift of the production possibility curve

a. True b. False Indicate whether the statement is true or false

Refer to the above diagram. At output level Q total cost is:

A. 0AFQ plus BCDE. B. 0BEQ plus BCDE. C. BCDE. D. 0BEQ.