Multiple Choice
Refer to the graph shown. According to the graph, this monopolistically competitive industry is currently: 
A) not in long-run equilibrium, and we would expect more firms to enter this industry.
B) not in long-run equilibrium, and we would expect some firms to exit this industry.
C) in long-run equilibrium, and so the number of firms will remain unchanged.
D) in short-run equilibrium with economic profit equal to zero.
Correct Answer:
Verified
Correct Answer:
Verified
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