Grand Rapids Community College WEEK 4 15tC2525386 S18 Take T

Grand Rapids Community College WEEK 4 15-tC252.5386 S18 Take Test: CHAPTR 10 Quiz 88-EC252 5386.518 Question Completion Status: QUESTION 8 Figure: Long-Run Monopolistic Competition LRATC MR Output Reference: Ref 10-2 (Figure: Long-Run Monopolistic Competition) Referring to the graph, this monopolistically competitive firm will earnprofit in the long run. OA no economic OB. high economic CC, abnormal profits D. less than normal Click Save and Submit to save and submit. Click Save All Answers to save all answers

Solution

A. Economic profits., the firm will only be able to break even in the long-run; it will not be able to earn an economic profit.