The above figure shows a monopolistically competitive firm. The figure
A) is only a short-run illustration because the firm is making an economic profit.
B) could be either a short-run or long-run illustration because monopolistically competitive firms can make an economic profit in the long-run.
C) is only a long-run illustration because the firm is making zero economic profit.
D) is neither a short- nor a long-run illustration.
A
Economics