The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry. 
FIGURE 11- 1
-Refer to Figure 11- 1. Assuming that this firm is producing its profit- maximizing level of output, what are the profits or losses being earned by this firm?
A) - $1000
B) $2000
C) $1000
D) - $500
E) $500
Correct Answer:
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